Specialist UK commercial property manager has bought a Thames Valley industrial estate on behalf of St. James鈥檚 Place UK.
Orchard Street said it bought Trade City Reading from Kier Property and Investec for 拢15.7m (鈧�17.6m).
Trade City Reading comprises a newly-developed industrial estate of 12 modern trade units totalling 54,755sqft across a 2.5 acre site. The estate is let to four tenants.
The estate sits within Reading Gateway, a newly-developed Kier Property and Investec scheme comprising industrial, retail, leisure and residential.
Harry Buxton, the acquisitions manager at Orchard Street, said: 鈥淭his prime industrial asset benefits from an excellent location within the South East鈥檚 industrial hub, with the newly-developed Reading Gateway scheme providing increased critical mass and local infrastructure improvements enhancing the estate鈥檚 connectivity.
鈥淲ith over 50% of the estate let or under offer and limited supply in the area, we are confident that the remaining units will let up well.鈥�
Leigh Thomas, the executive director of Kier Property, said: 鈥淭his 12-unit industrial estate is a prime example of our Trade City brand and the wider Reading Gateway is a fantastic example of Kier Property鈥檚 ability to deliver mixed-use development.鈥�
