Craigard Builds Portfolio in Milton Keynes
Craigard has purchased a 16,648 sq ft site at Brick Close Kiln Farm in Milton Keynes at £1.1million for it’s joint venture industrial portfolio with Brighton and Storrington. The deal reflects a yield of around 8.5% and a capital value of £66 psf. The site has a fantastic South East location, three miles away from the town centre and with easy access to the A5 and M1. The building is currently let to Macfarlane Merchanting Limited, and sublet to A.P.L.E. for a passing rate of £99,983 per annum, equating to £6.01 per sq ft.
“A great location, great links and an attractive price at around the new build cost of the building," comments Paul Foster of Craigard. “Ticking those fundamental boxes, the asset also sits well in the portfolio which now has assets in established industrial locations at Trafford Park, Burton upon Trent and Portsmouth."