Hillsborough Trade Point sold for £4.15m

The freehold interest in Hillsborough Trade Point, a high quality multi-let trade counter business park in Sheffield, has been bought by Columbia Threadneeedle Investments for £4.15m.

The 47,350 sq. ft. park was sold by Hillsborough Regeneration Company Ltd, which was advised by Sheffield-based property consultancy Commercial Property Partners (CPP). The price reflected a net initial yield of 6.86%.

Located opposite Sheffield Wednesday’s iconic Hillsborough football ground on the A61 Penistone Road, Hillsborough Trade Point features eight high-quality, refurbished trade warehouse units.

Tenants already include Topps Tiles, Screwfix, YESSS Electrical, Dulux and Maplin.

Patrick Herbert of Hillsborough Regeneration Company Ltd commented: “We are very pleased with the result of this development, which was undertaken mid-recession. However, we were always hopeful that the location and investment made would make it a success.”

Roger Haworth, partner of CPP, said: “This is one of the most significant property investment deals in Sheffield so far this year and graphically illustrates the region’s popularity underlining that well-located, quality assets, with proven occupiers, will always prove attractive.”

Garry Howes, investment director at Gent Visick, who advised Columbia Threadneedle, added: “This is a strategic acquisition for Columbia Threadneedle and forms part of their overall strategy to purchase fundamentally prime stock.”

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