Altrincham based property company, Mutley Properties, has struck another deal in Scotland, this time with the acquisition of a prime, high bay distribution unit Todd Square, Houstoun Industrial Estate, Livingston. 

Mutley has purchased the 3,949 m² (42,511 ft²) Todd Square from PRUPIM for £2.45million.  The unit is let to Continental Tyre Group Limited for an unexpired term of approximately 6 years.  The rental of £191,300 per annum equates to £4.50 ft².  The price paid reflects a net initial yield of 7.40%.

Mutley Properties was represented by James Barr with Montagu Evans acting on behalf of PRUPIM.

Commenting on the deal, David Marks, MD of Mutley Properties said:

“Todd Square is our second acquisition in Livingston.  It is situated in one of Livingston’s strongest distribution locations and offers an excellent specification which we believe will stand the test of time.”
 

Graeme Davies, Director of Investment Agents James Barr added:

“This particular investment offers considerable scope for rental growth and active asset management therefore we believe that the property will perform well going forward.”

For more information please contact Graeme Davies