Alder King secures £2.68 million on Exeter warehouse

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Alder King has secured the investment sale of a single-let warehouse in the Marsh Barton Trading Estate, Exeter, for £2.68 million, to Thames River Capital.

Acting on behalf of the Ashtenne Industrial Fund Partnership, the consultancy won a net yield of 7.93 per cent for the 40,485 sq ft facility.

Oli Stretton, investment associate at Alder King, said: “The investment opportunity attracted competitive interest resulting in a sale well in excess of the quoting price due to its strong property fundamentals which underpin the investment value.”

The site is currently being leased to the Royal Mail Group for £225,000 a year, until January 2022.

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