Glenstone sells Low Farm Place, Northampton
Glenstone has sold a secondary industrial estate in Moulton Park, Northampton for a sale price of £1.82m.
The 31 units estate was owned long leasehold. With substantial capex required over the next few years including the replacement of low grade asbestos roofing, combined with limited rental growth, it was decided to take advantage of local investor appetite by selling this investment and re investing the proceeds into less management intensive property. This sale creates a substantial profit over the current valuation.
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