Stenprop acquires industrial estate for £3.1m

JSE- and LSE-listed industrial property investor Stenprop has acquired an industrial estate in Newport, South Wales, from Storage Giant for £3.1-million.

Estuary Court is a modern estate, located in the established industrial location of Queensway Meadows. It comprises 20 units offering 34 980 square feet of industrial and trade counter space, and is fully let to 17 tenants.

“Estuary Court is an excellent addition to our portfolio. It is well placed to capitalise on growing demand for industrial accommodation as a result of the removal of bridge tolls across the River Severn later this year,” comments Stenprop executive property director Julian Carey.