Winwick Quay sold for nearly £24m

ONE of England’s largest multi-let industrial parks has been bought by global real estate company LaSalle Investment Management for £23.9m, a net initial yield of 7.58%.

In a deal brokered for LaSalle by Colliers International director Jonathan Mills, Winwick Quay business park near Warrington was sold by a private investor represented by Manchester-based chartered surveyors Riddelltps.

The park, close to junction 9 of the M62/M6 interchange is arranged across three courts, Cameron, Colville and Chetham providing approximately 400,000 sq ft of industrial/leisure space arranged over a 25 acre site and home to a diverse range of occupiers including Pure Gym, LA Bowl, Safestore, Klenzan, Autoglass and Kwik Fit.

Mills said: “Winwick Quay is widely considered to be Warrington’s most prominent and recognised multi-let estate. It fits in well with our client’s investment strategy of purchasing value add opportunities in core locations.”

Jonathan Hawkes, of LaSalle,  said: “Improving occupier sentiment, particularly in strategic locations such as Warrington, combined with the strong fundamentals of the estate means that this purchase is well aligned with our investment strategy.”