Multi-let industrial estate in Ipswich sold

Pigeon has sold a multi-let industrial estate at Olympus Close, Ipswich to a private investment company for £2.25m. The estate comprises 16 units over 21,600 sq ft and is let to multiple tenants. Pigeon acquired the estate for £1.35m in November 2016 and the sale provides  an Internal Rate of Return in excess of 45% per annum.