Gemini Business Park sold

GEMINI Business Park in Warrington has changed hands as part of a sale of a portfolio of four business parks.

The park, which is close to the huge Ikea unit next to the M62 motorway, was part of the 4×4 Portfolio sold by Liverpool Victoria Asset Management to DTZ Investment management in a deal worth £28.55m. The three other parks were the Five Arches Business Estate at Sidcup, Units 19-23 at the Mitcham Industrial Estate in Mitcham and the Swallow Gate Business Park in Coventry.

In total, there are 43 units ranging in size from 3,000-32,000 sq ft with an average lease break period of 6.6 years. Some 82% of the units are currently occupied. DTZ used its own in-house advisors on the transaction while Liverpool Victoria was advised by Griffiths Eccles.