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Ryden Purchase £6.5m Distribution Warehouse in Northern Ireland

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

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