Ashtenne Industrial Fund has increased its South Wales portfolio with the purchase of units 1-18, John Baker Close, Llantarnam Park, Cwmbran.
The properties were developed by the WDA and are currently occupied by nine tenants, generating an income of £311,500.
The purchase price of around £4m shows a net initial yield of 7.60%.
James Nicholas of Ashtenne said: “This prominent multi-let industrial estate compliments our existing holdings at Ty Coch Way Distribution Centre and Hill Street Industrial Estate.”
Ashtenne Industrial Fund was represented by Cooke & Arkwright and the vendors, Cwmbran 1 and 2 Limited, were represented by Fletcher Morgan.
Cooke & Arkwright has been retained by Ashtenne Industrial Fund as joint letting agent.
References: EGi News 14/09/05
