Acting on behalf of private investor clients Monk & Partners have negotiated the purchase of the long leasehold and freehold interests in units 3 a-c Woodacre Court, Saltash Parkway, Saltash.
Comprising a terrace of three self contained industrial/warehouse units with a combined floor area of 1889.5 sq m (20,441 sq ft) including mezzanines the block was previously owned by Silverfish UK Ltd (online bicycle and accessories retailer).
John Slade of Monk & Partners commented…..”The units were constructed in the early 2000’s by Priority Sites along with an adjacent 743 sq m (8000 sq ft) unit all within a self contained courtyard development. We sold the other unit to the same client for their own use a few years ago and purchasing this investment made sense to them bringing all of Woodacre Ct into the same ownership.
The transaction involved Silverfish structuring a leaseback of the three units to remain in occupation for a new term of 10 years and drawn on a full repairing and insuring basis.
The units were built to a very good spec and have been maintained to a high standard and moreover were constructed as three self contained units each with their own offices and W/C facilities enabling our clients to be able to re-let as a whole or separately in the future should Silverfish move on after their lease expires. At the same time the purchase represents a good investment with secure long term income from a well established retail/wholesale business.
The industrial market continues to perform as the strongest sector where we have acquired, sold or let a number of sizeable occupational and investment transactions over the past 12 months or so.