Dunmoore, the UK real estate investment and development company, has sold Marley Way Trade Park in Banbury in an off-market deal to Clipstone,a real estate fund management firm specialising in UK industrial property. The 20,000 sq ft estate was sold for £5.55 million, reflecting a net initial yield of 4.38%.
The estate was acquired by Dunmoore in April 2016 and transformed from a tired, secondary industrial terrace into a prime trade counter destination, let to a mix of national and regional trade operators including Toolstation, Crown Paints, Midland Trade Frames, Rexel and Banbury Heating.
Tomas Souto, Managing Director of Dunmoore, said: “The sale completes another successful trade counter refurbishment project, which has seen us deliver what both the occupational and investment market require.
“Along with Mansfield, Ashford and Billingshurst this is the fourth trade park sale in the past 12 months. The proceeds will be redeployed into further value-add and development opportunities for our Made for Trade portfolio”.
Dunmoore was advised by Ereira Mendoza and Clipstone was advised by Knight Frank.
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