THE Parks Trust in Milton Keynes recently completed the purchase of a warehouse investment on Brackmills Industrial Estate for £1.98M from owner-occupiers Dachser, making an excellent addition to its growing property investment portfolio.
The organisation was represented by Carter Jonas and Hadlands who jointly sourced the off-market opportunity.
THE Parks Trust in Milton Keynes recently completed the purchase of a warehouse investment on Brackmills Industrial Estate for £1.98M from owner-occupiers Dachser, making an excellent addition to its growing property investment portfolio.
The organisation was represented by Carter Jonas and Hadlands who jointly sourced the off-market opportunity. Burbage Realty acted for the vendor and The Property Department acted for the occupier, DX a leading UK wide parcels and logistics company.
The freehold property was being offered with vacant possession but The Parks Trust proactively agreed a simultaneous letting to DX who have been searching for a warehouse in the vicinity, creating an investment with a net initial yield of nine per cent.
Peter Castle, Managing Director of Hadlands, said: “Once again, we have shown what can be done when the parties work together to find the right solution. DX Services will be operating a courier and parcel business from what is a perfect base for them, at lease terms that suit them, and offering a good income for the purchasers to continue their work in Milton Keynes.”
Tom Forman at Carter Jonas said: “Not only does the property provide an excellent investment over the term of the lease being let to a good covenant on full repairing terms, but it also benefits from low site coverage ensuring its longer term re-lettability as these are increasingly in demand and in short supply.”
The Parks Trust, a self-financing charity, has a national property portfolio of worth over £73 million and the income from this, and other investments, funds the care of over 5,000 acres of Milton Keynes’ parks and green spaces.
While a significant proportion of the Trust’s property portfolio is based in Milton Keynes, the charity is actively funding developments and acquiring new investments throughout the UK.
Recent other acquisitions include among others, a new 83-bedroom Travelodge at Winnersh Triangle in Reading, Premier Inn in Wrexham and Student Accommodation and Sainsburys in Glasgow.