IO Acquire Riga Wharf Industrial Estate, Gloucester

IO has acquired Riga Wharf Industrial Estate, Gloucester for £2.3m from The Canal & Rivers Trust, marking the latest acquisition of its UK Multi-let Industrial joint venture with Bradford Estates.

The estate comprises 31,000 sq ft spread across 5 units, and the price reflects an attractive Net Initial Yield of 7.20%. With extremely limited supply in the local market, the asset presents a range of significant opportunities to improve the occupancy profile and to drive income growth in the medium term.

BIO Ltd is a joint venture between Bradford Estates, the family office of the Earl of Bradford, and the IO Group.