Belfast commercial property agency Lisney has completed its third significant deal in a month with the sale of an industrial facility at Lurgan’s Avenue Road.

The sale, completed on behalf of opthalmic equipment manufacturer Crossbows Optical, was made to a private party for £1m. It was sold following the firm’s relocation to a new purpose-built complex in the town.

The latest deal follows the sale by Lisney of two other industrial investments — a pharmaceutical distribution centre on Belfast’s Prince Regent Road for £2.5m and the sale of a further investment property at Lisburn Business Park for £1.3m, both of which the company announced at the end of June. The sale prices of both those properties reflected net initial yields of over 7%.

Lisney director David McNellis said: “This sale provides further evidence that some confidence is returning to the market and shows that investors with access to funds are moving to acquire opportunity sites.”

The AAH Pharmaceuticals Distribution Centre on Belfast’s Prince Regent Road was sold for £2.5m in a sale-and-leaseback arrangement negotiated by the Linenhall Street-based commercial property agency. It was working on behalf of the pharma- ceutical business, which is part of the Lloyds Pharmacy Group.

The other deal was the sale for £1.3m of a unit at Lisburn Business Park on Hillsborough Old Road. The building had an existing tenant, JP Corry Holdings, and produces a rent of £100,000 per annum.