Taurus Developments and Hammond Rutts have sold the freehold interest of a new 20,000 sq ft unit on Haverhill Business Park, recently occupied by MKM Building Supplies, to an institutional investor.
Plot 4, which overall totals 2 acres, was acquired for a price in excess of the quoted £3.94m.
MKM Building Supplies agreed a 20-year lease on the whole site in October 2016 in a pre-let transaction. This is its first site in East Anglia and opened in October 2017, employing 16 staff.
Commenting on the latest development, Michael Gibbens, Managing Director of Taurus Developments, said:
“With the current strength of demand in the investment market for well let, well located industrial/warehouse space, it made sense to take advantage of these market conditions. We will reinvest the capital receipt in further development at Haverhill Business Park.
“Haverhill Business Park is strongly placed to deliver further development in the short to medium term. The interest from potential occupiers is healthy and we expect to be able to announce further transactions over the coming months.”
Joint marketing agents are BNP Paribas and LSH.