On behalf of Private Equity, Red Kite has purchased a 14 unit multi-let industrial estate in Hayes just off Junction 3 of the M4. The Alder Industrial Estate at Betan Road provides a rent roll of £190,000 p.a. and is fully let benefitting from the Heathrow effect and subsequent tenant demand. Initial yield is 9.75%.
Red Kite arranged the debt through RBS on the purchase of the Estate from the Eddie Stobart Group Pension Fund.
Lewis Ellis and Partners acted for Red Kite and Reid Rose Gregory acted for the Vendor.