Sandyford Properties has expanded into the East Midlands with a £2.5 million acquisition of an industrial estate.
The multi-let industrial property company, headquartered in Stoke-on-Trent, has purchased Salcome Road Industrial Estate, in Alfreton, Derbyshire, from Derbyshire County Council.
The 35,300 sq ft multi-let estate extends to 16 units ranging from 1,550 sq ft to 3,100 sq ft and produces a current gross rental income of £203,114 a year, with scope for growth in line with market levels
Sandyford plans to refurbish the site as part of its active asset management strategy.
Paul Brindley, Managing Director of Sandyford Properties, said: “We are delighted to complete our first acquisition in the East Midlands.
“Salcombe Road Industrial Estate is a well-located, income-producing estate with clear potential to add value through refurbishment and proactive asset management.
“We see this as the first of many opportunities in Derbyshire and Nottinghamshire as we continue to grow our portfolio.”
Sandyford was advised by property consultants FHP which will be the letting agent for the estate. Sandyford’s legal advisor was Hill Dickinson.
