16th July 2015
Strong South West investment market delivers swift sale of Kraft’s Crediton premises
Acting on the instructions of private clients, property consultants Alder King have negotiated the freehold sale of 3C Common Marsh Lane, a prominent industrial building occupied by Kraft on the Lords Meadow Industrial Estate, the principal trading estate in Crediton, Devon.
The disposal to South West-based Ailec Holdings Ltd for £662,500 was finalised in just 20 weeks, showing the strength of the region’s investment market.
The 12,888 sq ft premises, which were originally developed as five individual units on a 0.8 acre site, are occupied by Trebor Bassett, which was recently acquired by Kraft, with a five year lease generating an income of £56,659 per annum.
Scott Rossiter, partner in Alder King’s Exeter office, said: “There is significant interest in regional investment opportunities as investors seek better value outside the over-heated markets of London and the South East. This property, with a five year lease to Kraft still to run, offers excellent potential and we’re delighted for both parties that the deal was concluded so swiftly.”
Ailec Holdings was represented by Maitlands in Plymouth.