A Fife industrial estate sold for more than £10 million after a bidding war.
Belleknowes Industrial Estate in Inverkeithing has been purchased by PATRIZIA and Caisson.
Lismore, who advised on the sale, said the £10.5m sale price reflects a yield of 5.95%.
Belleknowes extends to 140,000 sq ft and has 22 units of varying sizes. It provides trade, warehousing and light industrial accommodation.
Its occupiers include Network Rail, Kwik-Fit, Speedy Hire, Plumbstore and Bella & Duke.
Competitive bidding
Chris Macfarlane, director of Lismore, said there was strong competition for the site.
He said: “The sale price and competitive bidding from both UK and overseas investors on this asset highlights the continuing demand for multi-let industrial opportunities across Scotland.”
Lismore Real Estate Advisors and Shepherd & Wedderburn represented the vendor.
PATRIZIA and Caisson were advised by Galbraith and Morton Fraser.
Bidding war: Fife industrial estate sells for more than £10m
