An industrial estate in Lancashire has been acquired for almost £5m by Henry Boot plc's property development business.
The 150,000sq ft Allied Business Centre in Skelmersdale has been bought by HBD from West Pimbo Ltd for £4.75m.
The three warehouse units on site are let to Messenger Express Warehousing Limited who have been in occupation for over 15 years, and the serviced office space is multi-let to 13 tenants.
According to Sheffield-based HBD, the estate generates total rental income of circa £303,000 pa, with the purchase price reflecting a net initial yield of nearly 6%.
The 10.7-acre site has low site coverage of around 30% - offering "excellent redevelopment potential" in the future.
The firm also announced on Thursday it had acquired the old Sytner BMW site in Birmingham's Jewellery Quarter.
Ed Hutchinson, managing director of HBD, said: "These two deals are the latest in a series of acquisitions by HBD, which include a key site in Manchester's St Johns district and the purchase of 60,000 sq ft in Mabgate, Leeds.
"All of these latest acquisitions have significant future redevelopment potential and are an excellent strategic fit for our business."
The firm said the two acquisitions are in line with increasing its investment portfolio target to £150m, as well as expanding its £1.4bn development pipeline.
