A private investor has paid £3.5 million for an industrial investment at the IDA Industrial Estate at Mervue, Galway. The deal will produce a net initial yield of just over 7 per cent but, according to William Fennelly of Lisney, there was potential to increase the yield to almost 10 per cent once the next rent review takes place. The 72,164 sq ft unit is let to Beckman Instruments Ireland at a rent of £268,000 per annum. The new owner can avail of industrial allowances worth £250,000.