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Buccleuch Property announces acquisition success

Buccleuch logoBuccleuch Property has made a trio of industrial acquisitions totalling more than £5m, in key locations across the UK.

In a joint venture with the Mountcity Group, the property investment and development company has acquired a 90,000 sq. ft. industrial unit in Trafford Park, Manchester from Kerry Logistics.

The purchase, which was made for £2.54m and is the second to be carried out by Buccleuch Property in partnership with Mountcity, following a successful joint acquisition of Ibrox Business Park in Glasgow last year.

Located in the centre of Trafford Park, the largest industrial estate in Europe, the unit has been fully occupied by Kerry Logistics for the past 27 years.

Elsewhere, Buccleuch Property has added a 25,000 sq ft industrial unit at Bellshill Industrial Estate in North Lanarkshire, and Bonnington Bridge Business Centre in Edinburgh to its portfolio. The modern, multi-let site in Belshill was purchased from City Link Development Company for £1.5m, reflecting a net initial yield of circa 8.71%, while the Edinburgh site, which offers almost 27,000 sq. ft over a number of offices and workshops, was purchased for £1.4m.

Philip Eves, Director at Buccleuch Property, said: “These recent purchases represent a series of extremely attractive additions to our industrial portfolio, each offering strong locations with excellent transport links.

“Our latest acquisitions continue to strengthen the company’s property portfolio and we continue to actively seek new investment and development opportunities across the UK.”