A London industrial unit has been sold off-market to a private investor in a £4.38m deal.
Colliers International has represented Marchmont Investment Management on the off-market acquisition of a 30,000 sq ft industrial unit in Mitcham.
The property, Unit 18, is located on the Mitcham Industrial Estate and let to Team Sport until August 2036, generating an annual rental income of £235k.
The deal represents a net initial yield of 5.04 per cent.
James Rodwell, associate director at Marchmont, commented: “This Greater London acquisition is an excellent addition to our growing portfolio.
“The strong real estate fundamentals combined with the low passing rent provides us with medium term angles to drive our returns.
“We continue to seek well-located industrial investments in both London and the South East.
“Securing such opportunities remain challenging due to the level of competition and we are delighted to have acquired this opportunity off-market.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →