ACRE’S Foam Party

By October 2019 Transactions

ACRE Capital Real Estate have advised Schroder Real Estate on the sale of a 155,244 sq ft hi-tech industrial facility known as Bluebell Close, Alfreton, DE55 4RD, which is long-let to Recticel, a European Industrial leader in polyurethane chemistry, or the manufacture of foam!

The lease runs until 15th November 2030, providing an unexpired term of 11.0 years, at a current rent of £731,038 pa. The purchase price was £10,400,000, reflecting a net initial yield of 6.59% and a capital value of £67 per sq ft.

Location: Alfreton
Property Type:  Hi-tech industrial facility
Transaction Type: Sale
Client: Schroders Real Estate