Sandyford Properties

Sandyford Properties doubles its investment through sale of 21,000sqft unit

Sandyford-Properties-doubles-its-investment-through-sale-of-21,000sqft-unit

Last updated on September 11th, 2023 at 09:39 am

Sandyford Properties doubles its investment through sale of 21,000sqft unit

Sandyford Properties has recently disposed of a unit on Sun Street, Stoke-on-Trent which is currently let on a ten year lease to Ninja Warrior UK.

The commercial property specialist has achieved an IRR in excess of 20% on the sale of the 21,000sqft unit, with plans to recycle the capital into further site acquisitions and refurbishments.

The property was acquired by commercial property investor, The Southwark Group of Companies.

Managing Director, Paul Brindley, said: “This sale allows us to continue to expand our portfolio of multi-let industrial estates which are core to our service. We’ve already begun the process of acquiring some new properties which are currently in legals and should hopefully be complete in two to three months.”

Sandyford Properties purchased the Sun Street unit in 2017 which, at the time, was unoccupied. Since then, with the help and support of Sandyford Properties, Ninja Warrior has made the industrial / leisure unit home.

Sandyford Properties was advised in the sale by John Burrows and Joe Sinclair of B8 Real Estate and Claire Cosgrove at Hill Dickinson. The purchaser was advised by Ollie Rowe at Avison Young.