A multi-let industrial estate in Bedfordshire has been acquired by a London-based investment firm as part of a multi-million-pound deal.
Commercial property consultancy, Kirkby Diamond, advised on the purchase of a series of units at Cosgrove Way Industrial Estate, in Luton, on behalf of the Central London-based Pears Property Advisors.
Commenting on the acquisition, Eamon Kennedy, Head of Commercial Agency (group) at Kirkby Diamond in Luton, said: “We have a long-standing relationship with the Pears Family, and their advisors, and this is the latest in a series of attractive investments they have made in the region.
“This is a busy light industrial estate which has the potential to generate a very healthy yield, with one unit currently available to rent. The unit has a yard and loading to the rear and parking to the front. As well as advising from an agency perspective, our team has been appointed to handle lease renewals, rent reviews and general asset management at the site.”
The Cosgrove estate features approximately 44,000 sq ft of space, with units ranging from 6,000 sq ft to 11,529 sq ft in size.
Reflecting on the purchase, Pears Property Advisors’ Investment Director Ben Grossmann remarked: “Cosgrove Way continues to perform well, attracting strong tenant demand. As a result, we are continuing to deploy equity into this sector and region.”