Private equity investor Investra Capital has acquired the Riverside Business Park in Stoke from the Zakay’s Topland Group, for £12.5m at a yield of 9.1%.
The property, bought on behalf of Investra Investments and family offices in the Gulf region, comprises three buildings totalling 83,079 sq ft, which are let to Michelin Tyres for a further 10 years.
Martin Waller, managing director of Investra Capital, said the business park had medium and long-term asset-management potential. “This investment opportunity offers our clients secure income from an outstanding tenant, combined with an attractive yield profile. We are predominantly seeking value in the regions and felt the asset showed better value compared with other similar ones we have seen in the market,” he said.
The deal coincides with the completion of Investra’s acquisition of four industrial assets in Telford, Norwich, Peterlee and Newcastle-Under-Lyme totalling £8.6m.