The industrial developer has sold the freehold of a 10-acre industrial site in Worcester to Bristol-based property developer Ashfield Land for £7.5m.

The site comprises 205,000 sq ft of factory buildings, let to vehicle-part manufacturer JVM Castings until April 2020, at a rent of £595,000 a year.

The deal reflects a net initial yield of 7.5%.

James Digby, Ashfield Land director, said: “The JVM Castings site is in a superb location and has considerable potential in the medium term for mixed-use redevelopment.”

Franc Warwick acted on behalf of Brixton. King Sturge acted on behalf of Ashfield Land.