Commercial property


Property agent drives home car lot deal

Written by Peter Davison on .

Brickfields Industrial EstateBrickfields Industrial EstateCommercial property agent Kavanaghs has brokered a deal on a ring fenced yard it manages for a client.

Trowbridge-based Kavanaghs acquired the Brickfields Industrial Estate in Bracknell for a family investment company in 2017, but were disappointed when anchor tenant Europcar decide to leave the site at the end of their lease.

The firm began marketing the yard at the start of the year, and have now signed Southern Motor Homes to a 10 year lease at the asking rent of £50,000 PA.

The property extends to 11500 sq ft of yard with a self contained modern office building of 628 sqft.

Commercial property manager Stephen Brickell said: "The letting re-affirms that despite the doom and gloom of some commentators demand for industrial property of a good standard remains strong and rents remain robust.

"This letting has achieved a 17 percent increase in rent receivable and a substantial increase in capital net worth of the investment.”