Rockspring has acquired six industrial properties in Blackburn totalling 196,000 sq ft from Bilsdale Properties.
The six properties at Walker Park, Blackburn, were bought for £7.5m – a yield of 10.25%. They produce an annual income of £829,650.
Caisson Investment Management advised Rockspring on the acquisition, which was made on behalf of Halifax Pension Nominees.
James Ward of Caisson said: “We are pleased to have acquired this quality industrial estate on behalf of our client Rockspring, which provides a secure income backed up by strong covenants, with some clear asset management initiatives to enhance value.”
Fletcher King represented Bilsdale Properties; Joiner Cummings and Caisson acted for Rockspring.
Nick.whitten@estatesgazette.com
