Mandale Business Park in Durham Sold for £11.2 Million
Industrial property in Durham sold for £11.2 million at a price of £82 per square foot.
Mandale Business Park, a 136,000 square foot industrial property located in Durham, United Kingdom, has been sold for £11.2 million. The sale was completed on November 15, 2020, and the buyer and seller have not been disclosed. No brokers were involved in the deal.
The sale price of £11.2 million translates to a price of £82 per square foot. This is a relatively high price for industrial property in the area, indicating strong demand for well-located and well-maintained assets.
Mandale Business Park is a modern industrial estate located in the heart of Durham. The property comprises 14 units ranging in size from 4,000 to 20,000 square feet. The estate is fully let to a range of tenants, including manufacturing, distribution, and logistics companies. The property benefits from excellent transport links, with easy access to the A1(M) motorway and Durham city centre.
The sale of Mandale Business Park is a positive sign for the industrial property market in the United Kingdom. Despite the challenges posed by the COVID-19 pandemic, demand for industrial property has remained strong, driven by the growth of e-commerce and the need for efficient logistics and distribution networks. The sale of Mandale Business Park demonstrates that investors are still willing to pay a premium for high-quality industrial assets in well-located areas.
Overall, the sale of Mandale Business Park is a significant transaction in the United Kingdom’s industrial property market. The high sale price and lack of brokers involved in the deal indicate strong demand for well-located and well-maintained assets. The sale is a positive sign for the industrial property market, demonstrating that investors are still willing to pay a premium for high-quality assets despite the challenges posed by the COVID-19 pandemic.