BAE Crewe warehouse sold for £56m

Crewe Assets has announced the sale of a BAE-occupied manufacturing warehouse near Crewe to a consortium of Korean institutional investors, represented by Knight Frank Investment Management  for £56m.

The 350,000sq ft facility at Radway Green, Alsager, was acquired by Crewe Assets in 2011.

David Samuel Properties organised the sale on behalf of Manchester-based Crewe Assets, advised by partners Nick Nyunt from the commercial property team at Manchester law firm Kuits, and commercial agents GVA. The buyers were advised by international law firm Ashursts.

Nick Nyunt, head of Commercial Property for Kuits, said: “The acquisition and subsequent sale of this facility by Crewe Assets is demonstrative of their track record of identifying sound commercial investments in the sector, and will position them for further growth.”

Andrew Berkeley, director for David Samuel Properties, added: “We have long-term relationships with our advisors Kuits and GVA, and we continue to appreciate their commitment to understanding the needs of our business and of the marketplace we operate in.”