TT Group has sold Apex Point, an industrial estate in Welham Green, Hatfield, for a sum in excess of £9m.
Comprising 48,820 sq ft GIA across 2.05 acres and six units, ranging from 5,605 - 11,880 sq ft, Apex Point is currently let to three tenants, including the Stickleback Fish Company and Atlas Distribution Services Limited.
Acquired as part of a portfolio of three industrial assets in January 2023 – the others being in Biggleswade and Bury St Edmunds, Apex Point has been disposed of as part of our strategic asset management plan. The estate has been acquired by a US private equity real estate investment firm.
The sale of Apex Point is the latest in a number of acquisitions and disposals TT Group’s Property Investment Team has completed in the industrial sector in 2023.
Paul Munday, Head of Investment Acquisitions, said:
“Apex Point was acquired as part of a small portfolio of well-located industrial assets at the beginning of this year, where we identified opportunities to add value. Various asset management initiatives are well underway, but in the case of Apex Point, we felt it was the right time in its cycle to sell, and we are pleased to have concluded this deal.”
We were advised by DTRE, and the purchaser was advised by BNP Paribas Real Estate.