Commercial People has learned that Ryden has sold a warehouse facility in the Bellshill Industrial Estate in North Lanarkshire.
The Scottish-headquartered commercial property consultancy sold the Heritable Interest in Building 2of the Bellshill Industrial Estate, on behalf of a private client.
The property comprises of a refurbished 38,025 sq ft of space in a stand-alone warehouse. The building is currently let to Tradebe Healthcare National Limited on a lease that expires in October 2030 and has a passing rent of £250,000 per annum.
Discussing the context of the deal, Derek Archer of Ryden commented: “We continue to see strong demand for well let industrial assets with many investors keen to access the sector, viewing it as a safe bet from the current uncertainty and risk attached to other sectors of the market.”
The building which was purchased for a price of £3.775m by FT Linden (on behalf of an overseas client) facilitates a new 10-12 year contract awarded to Tradebe from NHS Scotland to process and dispose of clinical waste for 18 NHS Health Boards across Scotland.
Giving his thoughts on the sale, John Morton of FT Linden commented: “The industrial property market continues to perform well, and this investment provides my client with an attractive long term income stream. This acquisition underlines their continued focus on acquiring good quality property throughout the UK.”