Commercial property

Swindon trading estate acquired for £7.4 million

Written by Peter Davison on .

Headlands Trading Estate

 

A multi-let industrial estate in Swindon has been acquired for £7.4 million.

Expanding property company Stenprop has acquired Headlands Trading Estate at Stratton St Margaret, which provides 106,000 sq ft of space across 19 units.

The estate currently generates a total annual passing rent of £561,115 a year.

This purchase means that Guernsey-based Stenprop has completed 14 separate UK multi-let industrial acquisitions this financial year, with an aggregate purchase price before costs of £91.5 million.

Paul Arenson, CEO at Stenprop, said: "To have undertaken over £90 million of acquisitions and €122 million of sales over the last 12 months is a significant achievement for the Company, which has enabled us to meet the purchase and disposal targets we set ourselves at the beginning of the financial year.

"This is a particularly strong performance when one considers that the period coincided with the advent of the Covid-19 pandemic and the first of several lockdowns in both the UK and Germany.

"Our confidence to recommence our UK MLI investment programme, after initially freezing acquisitions and focusing on cash preservation during the first quarter of the pandemic, was boosted by our ability to get early visibility of increasing tenant enquiry levels from our digital marketing platform and to transact leases online.

"It soon became clear that the lockdown had led many businesses to seek online solutions, which increased or altered their space requirements and drove tenant demand for MLI units.

"We remain confident of meeting our target to become a 100 percent focused MLI business by this time next year and look forward to setting out our post-transition vision for Stenprop when we announce our annual results in June."

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