Leading investment manager, Federated Hermes (on behalf of Hermes Property Unit Trust) has sold Belleknowes Industrial Estate, Inverkeithing to a client of PATRIZIA AG.
The estate comprises 22 units extending to a gross internal area of 138,043 sq.ft. Key tenants include Network Rail, Kwik-Fit, Speedy Hire and Plumbstore.
The sale price reflects a net initial yield of 5.95%. Competitive bidding on the asset from both UK and overseas investors highlights the continuing demand for multi-let industrial opportunities.
Lismore Real Estate Advisors acted on behalf of Federated Hermes.