Commercial property specialist, Buccleuch Property has purchased a multi-let industrial property at Tameside Court, Manchester, for £1.45m.
Comprising four industrial units with offices totalling 25,000 sq ft, the purchase reflects a net initial yield of 5.5% and an estimated income of £84,500 per annum, with one vacant unit.
Situated in close proximity to junction 23 of the M60, and junction 3 of the M67, Tameside Court is located on the east side of Manchester with excellent transport links to the city centre and key commuting towns.
The multi-let estate comprises a range of unit sizes, from 5,010 sq ft to 8,350 sq ft, with a large shared yard, combined with ample parking facilities, making it an attractive proposition within the marketplace.
The current occupiers include Ross Auto Engineering and Irpen (UK) Ltd. The unit fronting Fifth Avenue, comprising 8,350 sq ft, is currently being marketed by Davies Harrison and offers excellent trade counter accommodation.
Philip Eves, Director at Buccleuch Property, said: “The property offers excellent accommodation for businesses looking for strong connectivity and quality accommodation on the east side of Manchester. We believe there are a number of asset management opportunities and we look forward to working with the current tenants of the estate as well as securing a new tenant in the near future.
“As we expand our commercial property portfolio we continue to look for new and exciting investment and development opportunities across Manchester and the surrounds.”
The property was sold by a private investor who was represented by Ross Burnett at Montagu Evans.