Strutt & Parker - Industrial Sale - Worcestershire, Ikon Trading Estate

Date: 16 Jul 2002

Strutt & Parker, acting for a private property company client, has acquired the 3.3 ha (7.5 acre) Ikon Trading Estate at Hartlebury in Worcestershire from a consortium of South African investors for circa £4 million reflecting an initial yield of around 10%.

Ikon comprises 15,100 sq m (163,000 sq ft) industrial space, and houses 31 tenants including all-weather sports surface manufacturer Tiger AG, which occupies 3,800 sq m (41,000 sq ft) and accounts for 18% of the estate's income. A further 0.2 ha (0.5 acres) with B1(c), B2 and B8 planning consent is available for future development.

Charles Lochrane, of Strutt & Parker's Investment Division, comments:
"This Ikon Trading Estate provides good quality, functional accommodation on economical and flexible terms in a secure environment; at a capital cost of less than £300 per sq m (£27.80 per sq ft), this acquisition represents an excellent investment."

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