A freehold industrial unit in Dorset has been sold in an off-market deal through property consultancy Vail Williams.
The end-terrace premises at Ferndown Industrial Estate, Wimborne, was acquired for the full quoting price of £495,000.
Located at 11 Haviland Road, the 3,820 sq ft unit is occupied by Micheldever Tyre Services, trading as Tyreland, on a 15-year full repairing and insuring lease.
A private property investment company bought the building, which comprises factory space and offices, from the private property investment owner.
Bryony Solan, a business space surveyor and associate at Vail Williams’ Bournemouth office, said: "We sold the property for the full quoting price of £495,000, reflecting a net initial yield of just under 5%."
Solan added: "The industrial market has consistently been the best performing during the pandemic and demand for industrial investment properties remains high. Coupled with the prime location of Ferndown Industrial Estate and the good quality tenant, we were confident that we would achieve a good result for our client, and one which we delivered.
"Our team in Bournemouth have excellent local knowledge, so we were able to offer our client advice and exceed their expectations in this scenario."
Occupiers on Ferndown Industrial Estate, one of the prominent industrial estates in Dorset, include Travis Perkins, Screw Fix, Greggs, Howdens and Caterpillar.