Colmore Capital has acquired a 25,000 sq ft multi-let industrial estate in Letchworth.

Green Lane Three Industrial Estate is situated on an established urban estate in Letchworth Garden City, comprising 25,473 sq ft split over 24 detached units, benefiting from good access to the motorway network, 2 miles from junction 9 of the A1(M).

The property comprises two 1990s built terraces of 22 small industrial style starter units (sub 500 sq ft), and two larger industrial units with yards. The acquisition is another opportunity to invest and add value to a well-located and in-demand asset, where there is minimal competing supply.

Matt Grainger, Director at Colmore Capital, said: “We are delighted to conclude the acquisition of Green Lane Three Industrial Estate. This multi-let industrial investment represents our third deal with Stanhope Capital Group which aligns perfectly with our strategy of targeting well located urban MLI, providing robust occupier demand, underlying value, and strong reversionary potential.”

The deal was supported by Lloyds, Innes England and Wilkes.