Investment market still attractive for industrial properties, says Bromwich Hardy founder
The founder of an award-winning commercial property agency says attractive investment opportunities can still be found despite the latest national lockdown.
Tom Bromwich, who heads up Coventry-based Bromwich Hardy with fellow founding partner Richard Hardy, says the market for industrial investment opportunities remains strong with yields remaining healthy.
Tom was speaking after helping a client secure the purchase of a Royal Mail sorting office in Chippenham, Wiltshire, which had been on the market for around £1.76 million.
“The industrial investment sector is continuing to perform strongly during the Covid-19 pandemic, largely because it is seen as a secure long-term proposition particularly whilst interest rates are at a historic low.
“Investors want to see their money working for them, and good sites with excellent tenants such as this are proving extremely attractive.
“This 15,600 sq ft site is in a first-class location on Chippenham’s premier industrial park, and benefits from an excellent tenant in the Royal Mail with more than seven years left on their letting agreement, and a net initial yield at a healthy six per cent.
“It ticked all the right boxes for our client, and we are delighted to have been able to help secure it for them.
“Industrial properties such as this which can provide a sustained return on investment will continue to do well throughout the lockdown and subsequent recovery.”
Bromwich Hardy has just been named the most active agent in Warwickshire for the seventh year running by respected industry publication Estates Gazette and features prominently in the publication’s national list of the most successful property consultancies.
The agency, which continued to work throughout the two previous lockdowns, says it intends to operate as normal a service as possible during the current restrictions.