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After acquiring Yarmouth Business Park in 2008, the London investment team was instructed to sell the freehold interest in the office and industrial investment which comprised two storey office building (10,940 sq ft) and a warehouse of 15,500 sq ft with a site area of 6.85 acres in November 2015. The majority of the site was let to Perenco UK Ltd for a term of 15 years from November 2008 at a rental of £309,068 per annum with fixed increases but they were no longer in occupation. ATI Tank Hire leased an open storage area at a rental of £31,000 per annum with a lease expiry in March 2016.
Second Applemead Ltd, a privately owned property company has acquired a detached warehouse in Bridgwater for £1.65 million, reflecting a net initial yield of 6.57%. The investment, Block H Showground Site, is let entirely to Grafton Merchanting GB Limited, trading as Plumbs and Bath, with a further 8 years remaining on the lease, generating an annual income stream of £115,000. The property is used as a trade counter and showroom extending to 22,738 sq ft and is located close to Junction 24 of the M5 motorway.