Tamworth-based Acquisition Adds to Craigard Select Portfolio
Craigard is delighted to announce the second acquisition in its Craigard Select Model - Units 5-8 Mariners on Litchfield Industrial Estate in Tamworth.
The units were purchased for £1.36 million, and perfectly match the requirements of Craigard Select properties - steady acquisitions that provide a mid-term stable income. There are currently two tenants who have been in occupation at the site for some time and have invested in the properties.
The acquisition is viewed by Craigard as a very good purchase given the high demand for multi let industrial property at the current time. “we are very pleased to have secured this asset at a net initial yield of 8.6%” comments David Foster, “We still continue to ensure that any syndicate purchase provides potential for future capital growth, and we are confident that this one does. The property fundamentals of this asset are strong and it provides flexibility to sub-divide the units in the future should any vacancy arise”