Moore Park Industrial Estate, Blackpool

Property description

• Located to the north of Blackpool town centre, the property comprises a well-established industrial estate providing 34 units across 5 terraces on a secure 2.79 acre site.
• The property was well let to a variety of different tenants with an AWULT of 3.08 years. The property was presented to potential purchasers in a phased manor, firstly be directly approaching active agents and investors prior to widely circulating the opportunity to the market.
• Due to the large number of tenants associated with this investment a significant amount of due diligence was undertaken to ensure that the information presented to investors was accurate and correct.
• Throughout the sale process we were careful to ensure what all interested parties where kept up to date with any changes to the tenancy schedule which ensured that a number of informed bids were received following an informal tender process.
• The property was placed under offer to Sheffield & Regional Properties and B8RE liaised closely with the purchaser to ensure they were fully informed of any changes to the tenancy line up during the sale process.
• The sale of the property completed recently for £2,275,000 reflecting a net initial yield of 8.29%.