Valad Property Group has sold the Cwmdu Trade Park in Swansea, Wales, for £7.2m, reflecting a net initial yield of 10%.
A local cash investor purchased the investment in an off-market deal from The Industrial Trust, which is asset managed by Valad and fund managed by Rockspring.
The 20-acre estate comprises 46 units equalling 300,000 sq ft and includes a four-acre development site. Tenants include builders’ merchants Travis Perkins and food company Dairy Crest.
Valad’s UK head of asset management Rob Howe said: “This demonstrates that there is good demand for solid, well-managed secondary investments with diversified income streams like other assets we have and we are very pleased with the price in the current market.”
Lambert Smith Hampton acted for Valad.
