Tees Valley Ventures, the joint venture between Helios and Aquila, has sold a 30,000 sq ft B2 unit at its TV120 scheme at Wynyard to GLPD Property for a yield of 7.9% showing continued strong investor demand in the area.
The unit is let to Tioxide, part of the Huntsman Chemicals Group, on a 20-year lease with a 10-year break at a rent rising to £4.69 per sq ft.
Ross Dixon of Helios said:
“We are delighted to have sold this unit shortly after the lease was signed slightly ahead of the asking price. We have seen significant demand for well let investments in the Tees Valley which is a positive sign that the market is recovering.”