Jolivet buys West Lancs industrial

Skelmersdale-based Graico Property Company has sold Potter Place, 130,000 sq ft in 15 units on West Pimbo Industrial Estate, to Jolivet Investments for £2.5m, reflecting a net initial yield of 12%.

Potter Place occupiers include Cunliffe Construction, Leroy Somer and Freight4U.

Simon Storer, managing director of Jolivet Investments, based in Guernsey, said: "This is an excellent, high yielding investment that will sit nicely within our rapidly growing portfolio. Potter Place is situated in an area that has proven to be an established and successful industrial destination which, together with the variety of tenants, means that it will prove to be a valuable asset that we can continue to nurture and improve going forward."

Jolivet Investments plans to spend £100m acquiring assets before the end of 2013.

Stewart Montrose acted on behalf of Jolivet Investments. GVA represented the vendor.

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