Acting on behalf of a segregated account, London-based real estate investment services firm Cording Real Estate Group has completed the sale of two industrial estates in Wigan and Wolverhampton.
Cording Real Estate sold the assets for 20 million pounds ($25 million). The transaction reflects a net initial yield of 8 percent.
The firm divested Hindley Green Business Park in Wigan, which consists of five industrial units and an office building, totalling 360,436 square feet (ft²), to a private overseas investor.
Additionally, Cording Real Estate also sold Oxford Street Industrial Estate in Wolverhampton, which comprises nine industrial units, totalling 114,913ft², to funds managed by U.S. asset manager Blackstone and M7 Real Estate.