Walton Summit warehouse sold for £2.4m

AN industrial warehouse at Walton Summit Industrial Centre at Bamber Bridge near Preston has been sold for almost £2.4m.

The building 86,155sq ft facility was sold by Cushman & Wakefield on behalf of a client of F&C REIT.

The sale price of £2.346m reflected a net yield of 12.5%. Karlin Real Estate acquired the self-contrained building, which is fully let to Prestoplan, a subsidiary of Taylor Wimpey, until January 2016.

It benefits from motorway access directly to the M6, M61 and M65.

Chris Brown of the C&W Northern Logistics and Industrial team said: “We had a great deal of interest in this building, which presented a rare opportunity to acquire a large short term let warehouse in a strategic location.

“The fact that the current tenant has less than nine months remaining on its lease allows the new owners the opportunity to work the asset to maximise its value in the long term and ultimately this is what generated the interest we had.”