Eurolink’s new owners after £2.2m acquisition

Eurolink 31, Normanton Industrial Estate, was sold by Standard Life to Strang Investments, based in Lancashire.

Tenants at the 49,181 sq ft estate include laundry products manufacturer Aquados, sub-prime car dealer Car Finance, and caravan products supplier SCS Components, which all have leases expiring between 2014 and 2020.

Eurolink 31 has a total annual rental income of £225,000, an average of £4.59 per sq ft, which represents a 9.7 per cent yield – the rent generated by a property expressed as a percentage of its valuation.

Agents Jones Lang LaSalle and Steadman Brierley advised on the deal.

Andrew Summersgill, investment team director at Jones Lang LaSalle, who led the acquisition, said: “This is a good example of the level of return that is attracting smaller investors back to commercial property where the underlying characteristics are robust.

“This is a good quality estate in a prominent location with diversified exposure to several ten- ants.”

Property consultants King Sturge merged with Jones Lang LaSalle on June 1.

The UK business now has 2,700 staff across 34 offices including Leeds. 

Globally, the company has 17,100 staff in more than 220 offices.