Units 1-3 St Cuthberts Way, Newton Aycliffe, DL5 6EN
The Brief
Sourcing a property for a client with a focus on industrial assets at a time when the sector was soaring in popularity and yields were compressing accordingly. The challenge was therefore, to source a suitable property that would still offer a decent return.
The Property
The property comprises two late 1970’s refurbished industrial manufacturing units with offices extending to a
total of 121,334 sq ft (11,272.2 sq m). Newton Aycliffe is a well located town in the south of County Durham situated 30 miles south of Newcastle upon Tyne. Aycliffe Business Park is the largest employment location in County Durham spread over 650 acres with over 250 businesses represented.
The Deal
One of the major attractions of this investment was the tenant – Gestamp. Founded in 1997, Gestamp Tallent Ltd specialise in the design, development and manufacture of metal automotive components and are part of the Gestamp Group, an international company with over 36,000 employees operating in 21 countries.
We were able to establish from various tenant meetings that they had significant capital investment plan into their property. Many investors are reluctant to target regional investment assets but we established that this was of institutional quality but crucially offering an attractive return mainly because of the North East location.
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