We advised IOAM – the private real estate investment and asset management business – on the acquisition of an £8.25m multi-let industrial estate in Telford, reflecting a Net Initial Yield of 6.72%. 

The freehold property comprises an industrial estate totalling 108,135 sq ft of various industrial and warehouse units with significant storage yards and ample car parking provision. The site is let to 37 tenants, is 98% occupied and benefits from excellent transport links in close proximity with the M54 running straight through the town. The local train station provides regular services to Shrewsbury, Birmingham New Street and London Euston. 

Telford is a large ‘new town’ located approximately 30 miles North West of Birmingham and 13 miles east of Shrewsbury, in the county of Shropshire. The town benefits from being situated close to the western edge of the West Midlands golden triangle. 

This site has a number of asset management opportunities including letting the 2% of vacant space and a long-term redevelopment opportunity. Alongside this, rental growth is likely in the future due to a limited amount of industrial and logistics space under construction and steady demand locally.