A warehouse investment property in Huntingdon has been sold for £1.25m, surpassing its guide price and reflecting ongoing investor confidence in the industrial sector.
The 38,000 sq ft warehouse, located within the well-established Stukeley Meadows Industrial Estate, was sold by property firm Cheffins on behalf of a private pension fund. The site is currently let to Bensons for Beds Manufacturing Limited and includes both the warehouse unit and a yard.
Purchased by a local investor, the property is situated in a prime trading area that hosts around 100 businesses, including Huntingdon Plant Hire, Weldlogic Europa Limited and Landmann Limited.
Initially marketed at a guide price of £1.15m, the sale was finalised through an informal tender process. Alexander Smith, Surveyor at Cheffins, stated: 'We initially launched the property to the market at a guide price of £1.15m and received interest from a wide range of investors, developers, and owner-occupiers. After conducting viewings, the marketing process culminated via informal tender.'
The final sale price of £1.25m represents a Net Initial Yield of 8.3%. According to Cheffins, strong interest in the site reflects robust demand for industrial assets in the region.
Smith added: 'Several competitive offers were received, and the property eventually sold in excess of its guide price. The popularity of this lot made it clear that there is strong appetite for industrial investment opportunities in this region, when a property is priced and marketed correctly.'
The deal underscores continued strength in the industrial real estate market, particularly for properties with established tenants and strategic locations.
Source: www.bigfurnituregroup.com