Lismore Real Estate Advisors (Lismore) advised a UK fund client on the £10.5m sale of the multi-let Belleknowes Industrial Estate in Inverkeithing to PATRIZIA and Caisson. The sale price reflected a net initial yield of 5.95%.
Belleknowes Industrial Estate is Fife’s premier industrial estate and is located only 15 minutes from Edinburgh airport. Extending to 140,000 sq.ft, it comprises 22 units of varying sizes and provides trade, warehousing and light industrial accommodation. It has a strong occupier base including Network Rail, Kwik-Fit, Speedy Hire, Plumbstore and Bella & Duke.
Commenting on the sale, Chris Macfarlane, director of Lismore said: “The sale price and competitive bidding from both UK and overseas investors on this asset highlights the continuing demand for multi-let industrial opportunities across Scotland.”
Lismore Real Estate Advisors and Shepherd & Wedderburn represented the vendor, whilst PATRIZIA and Caisson was advised by Galbraith and Morton Fraser.