Doncaster distribution unit sold in multi-million pound deal

A Doncaster distribution unit has been sold in a multi-million pound off-market deal.

The 67,000 sq ft unit, on Droves Dale Road in Goldthorpe, was acquired by Blue Marble Asset Management for just under £4m at a net initial yield of 7.1 per cent.

The unit is let to the UK division of Portwest Clothing Limited which manufactures and distributes workwear clothing on a national basis.

The Sheffield office of Knight Frank acted for the unnamed vendor, who commented: “The sale was executed in accordance with my clients’ business plan and represents a great result for both them and their investors.”

Tim Matthews, chief executive of Blue Marble, said: “With high quality well let industrial investments being in very high demand throughout the country, we are delighted to have secured this excellent investment which will make a complimentary addition to our client’s portfolio.

“We were able to provide comfort to the vendor that we are able to perform quickly and secured the purchase within 6 weeks of the beginning of the year.

“We remain on the lookout for more similar investments as our clients are targeting significant growth of its portfolio over the next few years.”

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