Property firm Cheffins has confirmed the sale of a warehouse investment site in Huntington for £1.25m on behalf of a private pension fund.

Currently let to Bensons for Beds Manufacturing Limited, the property was purchased by a local investor.

It comprises of a large 38,000 sqft warehouse unit and yard in the centre of Stukeley Meadows Industrial Estate, which is a popular trading location and is home to around 100 firms, including Weldlogic Europa Limited, Huntingdon Plant Hire and Landmann Limited.

Alexander Smith, Surveyor at Cheffins comments: “We initially launched the property to the market at a guide price of £1.15m and received interest from a wide range of investors, developers, and owner-occupiers. After conducting viewings, the marketing process culminated via informal tender.

“Several competitive offers were received, and the property eventually sold in excess of its guide price for £1.25m, which reflects a Net Initial Yield of 8.3%. The popularity of this lot made it clear that there is strong appetite for industrial investment opportunities in this region, when a property is priced and marketed correctly.”