Yorkshire and North East industrial units acquired in £16.7m 100-property deal

Three Yorkshire units and one North East property have been acquired as part of a 100-acquisition £16.7m deal by a national multi-let firm.

Industrial property company Stenprop has completed the acquisition of 100 industrial units in five separate transactions across the UK for an aggregate price of £16.7m.

Sheffield’s Hillfoot Industrial Estate and a unit at Holbrook Enterprise Park, Armthorpe Enterprise Centre in Doncaster and Middlesbrough’s Trident Business Centre have all been acquired by Stenprop.

The Hillfoot, Armthorpe and Trident estates were acquired as a portfolio from Westbrook Partners for £10.2m, comprising a total of 81 units spanning 137,695 sq ft.

Unit 5 at Holbrook Enterprise Park was acquired for just under £202k, reflecting a net initial yield of 7.65 per cent.

Julian Carey, Stenprop’s executive property director, commented: “These properties are all purpose-built multi-let industrial, which meet our acquisition criteria in terms of location and returns.

“We look forward to rolling out our Industrials operating platform on these estates. We have a number of other similar acquisitions under review, which we hope to complete in the coming months.”