Cheffins has sold a 38,000 sq ft warehouse in Huntingdon on behalf of a private pension fund for £1.25 million.
The building, currently let to Bensons for Beds Manufacturing, was acquired by a local investor.
The building and yard are at the centre of Stukeley Meadows Industrial Estate, home to around 100 firms, including Weldlogic Europa, Huntingdon Plant Hire and Landmann.
Alexander Smith, surveyor at Cheffins, said: “We initially launched the property to the market at a guide price of £1.15 million and received interest from a wide range of investors, developers, and owner-occupiers.
“After conducting viewings, the marketing process culminated via informal tender. Several competitive offers were received, and the property eventually sold in excess of its guide price for £1.25m, which reflects a net initial yield of 8.3 per cent.
“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.”
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