Dundyvan sold for £2.2 million

By Edward Marr

HIGHCROSS has paid Kenmore £2.2 million for the multi-let Dundyvan Industrial Estate at Coatbridge.

Generating a net initial yield of 7.63 per cent and a reversionary yield of 8.95, Dundyvan includes 40,224 sq ft of industrial space across 29 units.

This purchase follows the fund manager's acquisition of six sites in Scotland in 2007 including The Pentagon Centre, Glasgow; Morton House, Grangemouth and Eon House, Bellshill.

Marks Evans of Highcross said: “We are keen to continue this trend and acquire more sites north of the Border to add to our growing portfolio.”

Jones Lang LaSalle acted for Highcross while Kenmore was advised by Sanders Cartwright.