Red Kite has purchased for Private Equity an estate of 12 units from M7 on East Portway Business Park in Andover. The initial yield is 14% and has a vacant unit on which Red Kite are currently entertaining offers from 2 parties. Stratford Commercial are acting as letting agents and Bridger Bell are the instructed managing agents for this property.
Lewis Ellis acted for Red Kite in the purchase direct from M7. RBS has provided the bank debt and the Private Equity client is enjoying 18% p.a. cash returns.