Rockspring TransEuropean IV, advised by Caisson Investment Management and represented by Alder King, has acquired the freehold investment of Ash & Birch Industrial Estate, Kembrey Park, Swindon from Prupim for approximately £7.20m.
The 169,000 sq ft scheme produces a gross annual income of £620,000. The estate has 42 separate industrial properties ranging in size from 2,271-14,000 sq ft and tenants include: Geodis Wilson, Cleeve Technology, Swindon College, Premier Watercoolers and AGI Media.
Rockspring’s Charles Tarriere says: “This transaction represents the type of asset both in quality and diversity that TransEuropean IV seeks to acquire. The estate has great potential and, with some careful asset management to bring added value, we fully expect it to become a key element of the investment fund.”
Caisson Investment Management’s Philip Stott adds: “Ash & Birch Industrial Estate has proved to be a popular and successful business location with businesses from Swindon and further afield that have been attracted to the town and a number of exciting new initiatives are planned as part of a proactive asset management programme.”
Alder King, Loveday and Loveday and King Sturge have been retained to market the available units on the site, which total 56,594 sq ft.
David Hawksley, investment partner at Alder King said: “The estate offers Caisson the opportunity to improve their return by implementing their pro-active asset management regime.”
James Gregory, partner at Alder King said: “Ash and Birch offer industrial and warehouse units ranging in size from 775 sq ft to 18,921 sq ft. Their location on Kembrey Park means that they have access to the onsite facilities, which include a Premier Travel Inn Hotel, O’Brien’s Sandwich Bar, Kembrey Pub and Next Generation Health and Fitness Club. It is an excellent working environment and explains why Kembrey Park is known for being one of Swindon’s best business locations.”
Prupim was advised by Allsop.
