The freehold investment at 1-4 Fairoaks Business Park, Exeter Airport has been sold to GK Land (Engineering) Limited. The property comprises 13,314 sq.ft. (1,236.91 sq.m.) in 4 separate units on a site of 1.06 acres. The tenants who will all remain include PVM Supplies Limited and Sprint Print Co Limited. Thus is one of the few freehold industrial investments that have been available in the city for some time.
Rentals at the property range from £7.25 p.s.f. to £5.51 p.s.f. and show ample scope for uplifts over the coming years. The investment, for sale at offers in excess of £1.45 m, attracted bids at well over the asking terms from a range of investors and operators who were keen to secure a modern investment close to the airport.
Pepper Commercial have sold a range of industrial investments recently all with attractive yields, values remain strong and availability low. It will be interesting to see where the investment market heads in the future as demand in the sector shows no sign of slowing