ACRE Capital Real Estate have advised Columbia Threadneedle Investments on the acquisition of Castle Mill Industrial Estate, Dudley.
The asset comprises a 12-unit industrial estate extending to a total of 118,212 sq ft GIA, with unit sizes ranging from 1,513 sq ft to 24,725 sq ft. The estate is fully let to 6 tenants generating a headline rent of £531,763 per annum, reflecting a low average of £4.59 per sq ft overall.
Columbia Threadneedle acquired the property for a purchase price of £8,050,000.
Property Type: Multi-let Estate
Transaction Type: Acquisition
Client: Columbia Threadneedle