Trafford Park site sold for £5m
The property was purchased by The Schroders MLIPUT for £4,968,000, reflecting a net initial yield of 6.24 per cent.
A Trafford Park industrial scheme has been sold for just short of £5m as investors – and occupiers – take advantage of the surge in shed values.
B8 Real Estate, acting on behalf of Aviva Investors, have sold a three-unit 64,924 sq ft multi-let industrial estate situated in a prominent location adjacent to the Parkway Circle roundabout in Trafford Park.
The property was purchased by The Schroders MLIPUT for £4,968,000, reflecting a net initial yield of 6.24%.
John Burrows of B8 Real Estate commented, ”We are pleased with the extremely strong level of interest generated, resulting in a host of bids being received for the property.
“The strength of the offers submitted highlights continued investor demand for prime assets against a supply shortage of good quality industrial properties.”
Schroders MLIPUT were represented by Cushman & Wakefield.
In a seprate deal office furnirture firm Woodstock Leabank has agreed the £2.5m sale and lease back of its Stockport premises, raising £2.5m
The sale and leaseback agreement has seen Property Alliance acquire the company’s 41,500 sq ft unit in Bredbury, Stockport for £2.5m. Woodstock Leabank has agreed a 10-year lease with Alliance for the space, paying a rent of £5.50 per sq ft.
Joe O’Malley from Woodstock Leabank added: “This agreement enables us to stay in our property, while minimising risk and unlocking capital which we can use for further investment to support our future growth plans.“