A multi-let industrial estate in North Yorkshire has been sold for £8.6 million.
Marston Business Park at Tockwith, west of York, had been bought from Regional REIT Ltd by an institutional investor.
The deal was completed by London & Scottish Property Investment Management, the asset manager.
Set in 41 acres and spanning 171,155 sq ft, a total of 24 tenants are in occupation at the site, close to the A1.
It also has planning consent to double the developed footprint with six more plots on 11.62 acres, a factor seen as key to adding value.
The disposal represents a 36.5 per cent uplift from the acquisition price and a net initial yield of 7.2 per cent.
Stephen Inglis, chief executive of Glasgow-headquartered LSPIM, said: "This disposal is part of our previously announced portfolio reorganisation programme to dispose of our industrial properties that have met their individual asset plans. We shall recycle the capital into higher-yielding regional office properties.”
Marston Moor Business Park is one of the largest single-owned industrial estates in North Yorkshire and is built on the site of the former RAF Marston Moor air base, where aircrew on the Halifax heavy bomber were trained between 1942 and 1945.
