New owners take over Sunderland industrial estate in £1.75million deal

A major Sunderland's industrial estate has changed hands in a £1.75million deal.

Monday, 28th May 2018, 3:18 pm
Updated Monday, 28th May 2018, 3:21 pm
Leechmere Industrial Estate

Knight Frank Newcastle has disposed of Units 1-12, Leechmere Industrial Estate, a popular 50,000 sq ft estate with a core income of trade occupiers including Wolseley and Howdens.

Leechmere was acquired by M7 Real Estate Investment Partners, reflecting a net initial yield of 7.48%.

The firm’s Capital Markets team has also overseen the sale of Princes Park on Team Valley.

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Knight Frank Partner Dougie Cranston managed the sale of Leechmere: “There was good appetite for Leechmere underpinned by the long-term security on offer to two prime trade occupiers,” he said.

“We completed several strategic asset management initiatives, alongside our lease consultancy team, to drive the best possible returns for our client.”