M&G seeks buyer for M25 industrial estate

M&G has put the Orbital One trading estate in Dartford, Kent up for sale with a £13.5m price tag. The asking price reflects a net initial yield of 6.25%. The 66,862 sq ft multi-let estate, next to the M25, comprises 11 units let to seven tenants including Abacus Playgrounds, BSS Group and the South East Coast Ambulance Service. Two of the units have been sold on long leaseholds. The 3.76-acre freehold site provides an annual income of £899,962, reflecting an average rent of £13.46 per sq ft. Selling agents Knight Frank and Savills said the estate was highly reversionary with strong rental growth forecast in the short and medium term. There is also the opportunity to add value through asset management, said the agents.