Bedfordshire-based investment company Kindale has bought a 20,159 sq m (217,000 sq ft) industrial estate in Walsall, West Midlands, for £4.1m. The deal reflects a yield close to 11%.
The purchase price of the Bloxwich Lane Industrial Estate was partly offset by Kindale’s sale of a 6,503 sq m (70,000 sq ft) retail unit on the site to Castlemore Securities.
Kindale is currently quoting £32.18 per sq m (£2.99 per sq ft) for three remaining vacant industrial units of up to 7,432 sq m (60,000 sq ft).
Bulleys and Countrywide Commercial are joint letting agents on Bloxwich Lane. Countrywide also advised Kindale on the investment sale and purchase. CIS sold the freehold of the estate and was advised by DTZ Debenham Thorpe.
EGi News 26/09/97
