AN industrial estate in East Kilbride has changed hands in a #6.5m deal.
The Henderson Property Fund has purchased Langlands Place, part of Kelvin South Industrial Estate, from Ashtenne Holdings plc.
The purchase price reflects a net initial yield of 9.24%.
The acquisition consists of 22 modern units. Built in 1990, they offer a total of 153,430sq ft of space
The purchasers are
optimistic about prospects for rental growth, particularly since there is a
current shortage of modern quality space in the new town.
Eric Young & Co and DTZ Debenham Thorpe acted for The Henderson Property Fund, Sanders Cartwright acted for Ashtenne Holdings plc.
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