Lismore Real Estate Advisors advises JV on GBP6.5m purchase of prime Dundee industrial estate
Lismore Real Estate Advisors (Lismore) has advised joint venture partners, Chancerygate and JR Capital, on the GBP6.5 million acquisition of G3 Arrol Road in Wester Gourdie Industrial Estate, Dundee from West Ranga Property Group.
The sale price reflected a net initial yield of 6.50 per cent.
G3, Arrol Road, Dundee is a prominent multi-let industrial estate, located close to the A90 Kingsway.
Recently refurbished to a high spec level, it offers prime industrial and logistics space, totalling approximately 80,000 sq ft.
Let to Scania, Ford and Grimme UK until 2028, 2029 and 2031 respectively with rents ranging from GBP5.00 sqft to GBP7.00 sq ft. One unit remains vacant. Future rental growth is anticipated due to the strong local market dynamics.
Lismore Real Estate Advisors represented the purchaser, whilst the vendor was advised by CBRE.