Acting on behalf of real estate management firm David Samuel Asset Management, Ryden has purchased the Freehold Interest in a distribution warehouse in Northern Ireland.
Located at 35 Moy Road, Armagh, the property had an initial quoting price of £6.55m and was sold for an undisclosed sum by Silverwood Group.
The modern high-quality unit was constructed in 2017 and consists of a warehouse and office building which extends 85,000 sq ft over a 5.8-acre site.
Ryden’s Derek Archer said of the deal: “We were delighted to assist David Samuel Asset Management in this transaction. The property is a good fit for our client’s investment requirements. Bunzl had a long-standing requirement for a distribution hub in this location. This facility meets their long term operational needs.”
The warehouse is currently let to Bunzl UK Limited on an FRI lease for a cost of £489,000 rent per anum.
Ryden represented David Samuel Asset Management while Savills acted on behalf of Silverwood Group