Manchester based property investors Jaymar Estates has purchased an industrial property in Cumbernauld, North Lanarkshire from a private Scottish investor for £1.6m.
The 31,000 sq ft property at Drum Mains Park is let to outsourced call centre operator iResponse Centres until May 2016 at a rent of £152,725 per annum.
The purchase produced a net initial yield of 8.8%.
David Johnston, investment partner at King Sturge in Glasgow, acted for Jaymar.
He said: “Jaymar was attracted to this particular property by the income yield it would receive and is actively seeking other investment opportunities in Scotland.”
The vendor was represented by Montagu Evans and James Barr.
References: EGi News 11/08/06
