Commercial property

Property agent acquires £3m industrial investment on behalf of client

Written by Peter Davison.

Building 8210 Gloucester Business ParkA £3m property has been acquired by Melksham agents Kavanaghs on behalf of a client.

Kavanaghs acquired Building 8210 on the Gloucester Business Park on behalf of a private investment company for just under £3m.

Kavanaghs will manage the property as part of its client's growing portfolio.

Stephen Brickell, commercial property manager, said: "Our client was introduced to the property in an off the market deal and we were instructed to inspect the property and carry out an investment appraisal in a very short period of time.

"The market for investments on the park is strong, and having missed out the recent sale of the Post Office sorting office situated next door our client was keen not to miss out.

"The property is occupied by UPS who have just agreed a new long term lease."

Kavanaghs offer a full investment search and acquisition service for clients along with comprehensive commercial property management service.

For further information, or for a confidential discussion on any commercial management issues contact Stephen Brickell at Kavanaghs on 01225 341490.