Lismore advise JV on purchase of £6.5m multi-let Dundee industrial estate

G3, Arrol Road, Dundee is a recently refurbished prime multi-let industrial estate, totalling approximately 80,000 sq.ft, let to Scania, Ford and Grimme UK until 2028, 2029 and 2031 respectively. One further unit is vacant, where the vendor provided an 18 month guarantee. The rents range from £4.90/sq.ft to £6.85/sq.ft with future rental growth anticipated.

Lismore advised the JV partners, Chancerygate and JR Capital on the acquisition.

The estate was purchased for £6.47 million which reflects a net initial yield of 6.50% and a capital value of £80/sq.ft.