Cooke & Arkwright
News
Ashtenne increases South Wales Portfolio
14/09/05
Ashtenne Industrial Fund Limited has increased its South Wales portfolio with the purchase of units 1-18, John Baker Close, Llantarnam Park, Cwmbran.
The properties were developed by the WDA and are currently occupied by nine tenants, generating an income of £311,500. The purchase price of circa £4m shows a net initial yield of 7.60%. Ashtenne Industrial Fund was represented by Cooke & Arkwright.
Ashtenne Plc, the specialist industrial property fund manager and co-investor, has recently been acquired by Warner Estates Holdings Plc and this is the first large acquisition undertaken by the Ashtenne Industrial Fund Limited in Wales since the takeover.
James Nicholas of Ashtenne stated “We were delighted to secure this prominent multi-let industrial estate that compliments our existing holdings at Ty Coch Way Distribution Centre and Hill Street Industrial Estate in such a competitive market.”
Cooke & Arkwright has been retained by Ashtenne Industrial Fund as joint letting agent.