An acquisition by Yorkshire property investment company The Helmsley Group has hit the right note with investors. The company has formed a property syndicate and purchased an industrial unit on Opus Park for £1,185,000. The industrial unit is located at Preston Farm Industrial Estate at Stockton on Tees. Syndicate members will achieve an annual net yield of 7.25% plus the potential for capital growth. The newly refurbished 18,430 sq ft building has been let for 10 years on a full repairing and insuring lease to Cummins Ltd, one of the world's largest manufacturers of diesel engines, turbo chargers, alternators, generators and related products. The premises will provide the company, which has a large manufacturing base at Darlington, with additional storage and service accommodation for the continually growing business. Preston Farm Industrial Estate has good transport links and other occupiers include Virgin Media, Vodafone and Mitre Plastics with a range of motor trade and warehouse businesses on the site. James Craven, director of The Helmsley Group, which is based at Monks Cross North business park in York, said: “In today's very uncertain marketplace we are targeting properties that are let for a long period of time to very strong covenants to minimise the risks and maximise the certainty of quarterly rental returns. Our intention is to provide properties that are very likely to continue to perform in rental terms regardless of the state of the marketplace and we believe Cummins' covenant strength goes a long way to fulfilling that goal. “We believe this property provides safety and security in a difficult marketplace with realistic prospects of growth in the future.”