BDB Pitmans advises Cording Real Estate Group on £20 million sale of industrial sites

BDB Pitmans’ commercial real estate team in Cambridge is proud to have advised Cording Real Estate Group (‘Cording’) on its disposal of two industrial sites – Hindley Green Business Park in Wigan and Oxford Street Industrial Estate in Wolverhampton – for a total of £20 million, reflecting a net initial yield of 8%.

Hindley Green Business Park, amounting to 360,436 sq ft – including five industrial units and an office building – has been sold to an overseas investor. The 114,913 sq ft Oxford Street Industrial Estate has been sold to funds managed by Blackstone and M7 Real Estate. These were the final assets, from a portfolio of six UK industrial estates acquired in March 2015, to be disposed of by Cording.

The BDB Pitmans team advising on the transaction comprised of Katy Klingopulos, senior associate, and Jessica Chadwick, solicitor.