Stenprop acquires two industrial estates

Stenprop has acquired two industrial estates in Glasgow and Wolverhampton in separate transactions for a total of £7.1m. Western Campus at Strathclyde Business Park, Bellshill, Glasgow, was bought from Central Assets for £4.6m, which reflects a net initial yield of 6.8%; and Merryhills Enterprise Park in Wolverhampton was acquired from two private investors for £2.5m, reflecting a net initial yield of 6.7%. Built in 2016, Western Campus provides 44,234 sq ft across 15 industrial units and is 75% let. The total annual passing rent of £333,454, which includes rental guarantees on two of the three vacant units, equates to a