Property advisers, Vail Williams LLP, has advised Dorset-based developers, Ankers & Rawlings, on the acquisition of an industrial unit at Ferndown, East Dorset, for £2,475,000.
The acquisition of the unit adds to Ankers & Rawlings already extensive property portfolio, which will also see the launch of a new business unit scheme on the same industrial estate next year.
Experts from across Vail Williams’ investment, lease advice and building consultancy teams came together to advise on the acquisition, which will continue to see the unit let to ABF Grain Products Limited until 2023.
ABF trades as Allied bakeries and the warehouse is currently used to distribute to many household brands, including Kingsmill bread.
Speaking of the acquisition, Scott Rawlings, Managing Director at Ankers & Rawlings, explained:
“We are delighted with this purchase which not only provides a solid income stream from a very good tenant, but is also well positioned on an estate that we know well.”
Russell Miller, lead Partner advising on the deal at Vail Williams, commented:
“It was a pleasure to work with Ankers and Rawlings to complete this acquisition, which represents a sound investment opportunity, with a valued tenant secured for the next 7 years.
“It’s an exciting time for Ankers & Rawlings, with lots of interesting property opportunities in and around Cobham Road – from office to industrial space.”
Vail Williams was retained to market further properties on Cobham Road on behalf of Ankers & Rawlings, including a new 16-unit industrial development, Cobham Business Centre, which is expected to complete in Spring 2018.
17 Cobham Road has also undergone complete transformation, to provide newly refurbished office space with suites available from approximately 1,000 sq. ft. upwards.
Hughes Ellard advised the vendor.