INVESTMENT ACQUISITION

 

Ripley Close, Normanton

 

Client: Ribston Capital

 

  • Multi-let industrial
  • 43,175 sq ft
  • £1.65 million

 

Acting on behalf of Ribston Capital, GV acquired the freehold interest in Ripley Close, a multi-let industrial estate, Normanton.

 

The estate comprises nine units totalling 43,175 sq ft and was acquired for £1.65 million reflecting a low capital value of approximately £38 per sq ft.  

The estate was acquired with approximately 50% vacancy and low base rents on the existing units providing an excellent opportunity to add value by re-letting the voids and increasing the rental tone.