IO, the leading manager of multi let industrial estates, has acquired Units 24-27 Techno Trading Estate, Swindon as part of its £120m UK Industrial joint venture.
The fully occupied, multi let industrial estate consists of six units ranging from 9,500 sq ft to 10,500 sq ft, is situated in one of Swindon’s most established locations and was acquired for a consideration of £3.150m reflecting a net initial yield of c.7.45% and a reversionary yield of 9.25%.
Alastair Andrews, Partner at Loveday commented
“Swindon’s industrial market has performed well over the past two years with demand continuing to improve as the economy strengthens. There is genuine rental growth and estates such as Techno will greatly benefit from IO’s active management style.”
IO Investment 2 is a joint venture between Grosvenor, the privately-owned international property group, Quilvest, an independent wealth manager and private equity investor and the IO Group.