James Barr?s Investment Team has completed two industrial investment transactions on behalf of Kilmartin Property Group.  In both cases the tenant within the properties was Magnet, the fitted kitchen specialists.

The first transaction was the acquisition of the Magnet warehouse and showroom property at Tweedbank Industrial Estate in Galashiels.  The property, which extends to a Gross Internal Area of 928 sq m (9,992 sq ft), is let to Magnet Ltd on a FRI lease expiring 29th September 2014 at a rent of œ37,000 pa.  The property was acquired for a total purchase price of œ560,000 from Mutley Properties (Holdings) Limited, which reflected a net initial yield of 6.25% and a reversionary yield of 6.75%.

The second transaction was the sale of the Magnet warehouse and showroom property at 108 Market Street in Musselburgh.  The property, which extends to a Gross Internal Area of 2,564 sq m (27,595 sq ft), is let to Magnet Ltd on a FRI lease expiring on the 28th September 2014 at a rent of œ110,000 pa.  The property was sold for a total purchase price of œ2,050,000 to The Joint Properties, which reflected a net initial yield of 5.1% and a reversionary yield of 6.00%.

Jamie Thain of James Barr said:

?James Barr is pleased to have undertaken two further transactions on behalf of Kilmartin Property Group.  Both deals were undertaken off market and represent competitive purchase and sale levels for property within this sector in the current market.?