£1 million investment deal completed at Northminster business park
A £1m sale of four business units has been completed at Northminster Business Park, York.
Four light industrial units, all of which have tenants, have been sold by the owner of the 20-acre business park, Northminster Ltd, to a private investor who wishes to remain anonymous.
The units, which total 13,500 sq ft, are occupied by digital colour printing equipment supplier, Xeikon; Newsquest (Yorkshire & North East); global engineering business, Renishaw plc and Tenneco Automotive UK Ltd.
The total rent from the four units, which are part of a broader investment portfolio for the new owner, is understood to be in the region of £80,000 a year.
Northminster Ltd development surveyor, Alastair Gill, who negotiated the deal, says: “These are all high quality units with a good tenant profile which have a strong commitment to York and, as such, provide a very sound investment opportunity.
“The announcement by The Bank of England that it intends to keep bank interest rates low until unemployment falls means that investing in property, where rental income can result in a far better return, remains very attractive.”
Among other tenants at Northminster Business Park are WebCertain, Lynden Design, Unilabs, McCarthy & Stone, Pavers and UK Wealth Management.
A former distribution facility, Northminster Business Park, was acquired by Northminster Ltd in 1995 and has been developed into a high quality business park with extensive landscaping. It is now the home to more than 40 local, national and international businesses employing in excess of 500 staff.