Boundary Real Estate Partners has sold an urban Leicester multi-let investment.
The investment comprises adjoining industrial estates with a total of 34 units, configured to provide a mix of functional light industrial, urban logistics and trade units. The site also includes an office complex on a five-acre site with redevelopment potential.
The overall industrial element totals 241,187 sq ft, providing an annual rental income of just under £2 million. Over the last three years of ownership, there have been 21 lettings, renewals and rent reviews across Bridge Park and Pinfold Road Industrial Estates producing an average rental growth of over 12% pa.
Strategically located in Thurmaston, one of Leicester’s prime industrial and logistics areas, the scheme benefits from easy access to the A46, A6 and M1 Motorway, as well as the A607 Melton Road, providing direct access into Leicester City Centre.
Bridge Park & Pinfold Road Industrial Estate was acquired by Boundary in December 2021 as part of the Raynsway Portfolio.
Charlie Walker, Co-Founder of Boundary, says: “Following the completion of the sales programme from the office element of the portfolio, we are delighted to have now finalised the disposal of the industrial segment, following active asset management over the last three years.
“We are now focussed on delivery of the 50 acres of development land next to the A607, following planning permission earlier this year.”
The new development will provide up to 656,620 sq ft of warehouse/industrial space to provide a gateway location into Leicester, injecting capital into the region and providing substantial employment and economic growth, along with protecting, enhancing, and extending the area’s networks of green spaces.
The development will target BREEAM Excellent and EPC A ratings, ensuring that the design, construction and operation of the buildings meet the highest environmental standards and attract best-in-class operators/tenants.
ACRE Capital advised Boundary on the sale of Bridge Park & Pinfold Industrial Estate. The purchaser was represented by APB.
