Rural estate team turns its hand to Nottinghamshire industrial park

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News article

Historic Derbyshire rural estate secures commercial investment in mining town

January 2017

Croft Industrial Estate

An historic Derbyshire rural estate looking for higher yields has bought an industrial estate in a former Nottinghamshire mining town.

Tissington Hall near Ashbourne, built by Frances FitzHerbert in 1609 is today run as a prestigious Derbyshire wedding venue by descendant Sir Richard and Lady Fiona FitzHerbert.

They were looking to diversify and earn higher returns than rural land or other investments so asked rural estate manager Fisher German’s commercial team for advice.

Now their investment vehicle Turpin Investments Ltd has acquired the 1.4-acre Croft Industrial Estate in Sutton-in-Ashfield at just shy of £1m for a gross initial yield of 8.12%. 

The rent roll totals £80,565 pa from 10 units from 660 to 7,072 sq ft and totalling 18,518 sq ft.  Turpin Investments has instructed Fisher German to manage the estate and collect the service charge for maintaining the common parts of the site.

Fisher German are managing the handover of landlords, tidying up the estate, looking at development options for vacant space and considering other ways to improve the estate and enhance yields and capital values.

Fisher German associate commercial surveyor Rob Haigh said: “The new owners are bringing their Estate skills to the site that has been largely unloved by the previous corporate owners, so the immediate priority is a smarter appearance, new signs and other plans to improve the tenant experience.”

Sir Richard said: ”We are keen to develop better working relationships with all the tenants.”

For further information contact Rob Haigh on 07880 737676 or email him here
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