Six industrial units on the Endeavour Way Industrial Estate, Sutterton, Lincolnshire have been sold off a guide price of £900,000 in a deal negotiated by Leeds-based Carter Towler. The 15,934 sq ft fully let, freehold premises have been purchased by BW SIPP Trustees Ltd.
Located on close to Boston, the modern units are occupied by a range of businesses including printing company Newton Press, window blinds supplier Suntec Blinds and glass suppliers South Lincs Glass Shop.
The current total income generated is £72,980 per annum and the average length of unexpired lease is 4 years.
Commenting on the deal Carter Towler director, David Towler said: “We are delighted with the successful conclusion of this purchase on behalf of our clients BW SIPP Trustees for a number of reasons. The properties themselves are in excellent condition and have very good tenancies in place. The location has the compelling combination of being out of town, but also very accessible and near to conurbations such as Spalding, Boston and Peterborough. It’s an attractive and convenient place to work.
The properties at 1-6 Abbissgate range in size from 1832 to 4970 sq ft offering flexibility to potential tenants and the passing rents offer scope for growth.
Carter Towler employs 50 people and is acknowledged as one of the most commercially active property companies in the North. Over the past 12 months the company has been involved in over 300 industrial, commercial, investment, property management and building services deals and currently manages over 3,500 properties for its clients nationwide.