Sandyford Properties, the UK multi-let industrial property company, has made its first investment in the East Midlands with the acquisition of Salcombe Road Industrial Estate in Alfreton, Derbyshire.
The 35,300 sq ft multi-let estate, which extends to 16 units ranging from 1,550 sq ft to 3,100 sq ft, was purchased at auction for £2.5 million from Derbyshire County Council, the long-standing owner since the estate’s original development.
The estate produces a current gross rental income of £203,114 a year, with scope for growth in line with market levels. Units are of steel portal frame construction with brick and block elevations beneath pitched roofs and benefit from high eaves, roller shutters and a large forecourt with dedicated parking.
Sandyford plans to refurbish the site as part of its active asset management strategy. The estate, accessed via Salcombe Road, enjoys strong transport links with excellent connectivity to the M1 motorway and convenient access to Derby, Nottingham and Mansfield.
This is Sandyford’s first acquisition in the East Midlands, broadening its portfolio beyond its core markets of Staffordshire and Cheshire and laying the foundations for further growth in the region.
Sandyford was advised by FHP which will be the letting agent for the estate. Sandyford’s legal advisor was Hill Dickinson.
Paul Brindley, managing director of Sandyford Properties, said: “We are delighted to complete our first acquisition in the East Midlands. Salcombe Road Industrial Estate is a well-located, income-producing estate with clear potential to add value through refurbishment and proactive asset management. We see this as the first of many opportunities in Derbyshire and Nottinghamshire as we continue to grow our portfolio.”
