Property investment and development firm TT Group has bought two industrial assets in the South East and the East Midlands for more than £9.5m.
The company has acquired the freehold of the Three Acre Industrial Estate on Park Farm Road in Folkestone, Kent (pictured above), from Workspace Group. The estate comprises nine warehouses, measuring 44,341 sq ft, let to eight tenants including Howdens, Plumbase, Edmundson Electrical and Eurocell. It generates a rent of £367,708 per year.
Ereira Mendoza acted on behalf of TT Group, while CBRE advised Workspace Group.
Elsewhere, TT Group has acquired a 73,590 sq ft warehouse in Kegworth, Leicestershire (pictured below), from Interpath. The property, which sits on a 3.61-acre freehold site, is let in its entirety to electric motor and pump manufacturer Hayward Tyler Fluid Handling on a 15-year lease.
TT Group was advised by GV&Co, while Sanderson Weatherall advised Interpath.
Paul Munday, head of investment acquisitions at TT Group, said: “We will benefit from a balanced and diversified income stream, while [these transactions] offer future asset management enhancement opportunities.”
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