Investor plc (AEWU) has completed the sale of two industrial assets, fetching a total of over £16 million. The properties, namely Euroway Trading Estate in Bradford and Lockwood Court in Leeds, were sold for £6.45 million and £9.65 million, respectively.

AEWU initially acquired Euroway Trading Estate back in November 2016 for £4.95 million, while Lockwood Court was purchased in February 2019 for £7.32 million. The latter property came with a new 10-year lease to LWS (Yorkshire) Ltd, backed by Harrogate Spring Water. However, due to LWS going into liquidation, AEWU secured a new 10-year lease to Harrogate Spring Water in December 2019.

The successful sale of these industrial assets has resulted in significant profits for AEWU’s shareholders. The company plans to reinvest the proceeds from these sales into pipeline assets that offer higher yields in comparison.

Laura Elkin, Portfolio Manager at AEWU, expressed satisfaction with the performance of both Euroway Trading Estate and Lockwood Court, highlighting the strong returns they have provided to shareholders since their acquisition. Given the prosperous industrial markets in Yorkshire and the effective asset management initiatives undertaken, AEWU saw an opportunity to realize capital growth and redirect the sales proceeds into more lucrative opportunities.

AEWU expects to make further announcements regarding new purchases in the coming months.