A trading estate in Devizes, Wiltshire, has been sold of for £3.46million.
Worldwide Estates sold the freehold investment of Nursteed Trading Estate to private investment group Maybrook Properties.
The estate, located to the south east of Devizes, is arranged in three blocks and provides 41,685 sq ft of accommodation on around 3.8 acres of land.
All 10 units are let out to occupiers including Mole Valley Farmers, City Plumbing Supplies and Varivane Industries. The yearly the rent from the estate is £237,500.
Last year Worldwide Estates secured planning permission for the development of 17 small industrial units on a 1.06-acre yard to the rear of four units.
James Gregory, partner at Alder King’s Swindon office, said: “Nursteed Trading Estate is a well-established industrial location with sustainable tenant demand.
"Having secured planning permission for a small unit scheme on the estate, Worldwide Estates decided to capitalise on the current market demand for industrial assets by taking the estate to market.”
Gareth Hunt, managing director of Maybrook Properties, said the acquisition of Nursteed Trading Estate was "fully in line" with the group’s portfolio strategy.
He said: “With the continued growth of 'click and collect' we see opportunity to enhance the value of this successful market town trading estate, particularly to boost revenue through the additional development potential.”
Alder King and Strakers represented the vendor while Kenningtons acted for the purchaser.
The buyer, Maybrook Properties, also recently confirmed the sale of Cambridge House on Henry Street in Bath to F&C UK Property Fund for £20.85million.
Following a programme of refurbishment and various asset management initiatives by Maybrook, the 51,580 sq ft property now includes a gym and an Iceland store on the ground floor with offices above.
The property is fully let with total rents of £1.028million a year.
