Langtree buys £3m industrial estate in Warrington
INDUSTRIAL property specialist Langtree Group has bought the 120,000 sq ft Warrington Central Trading Estate from fund manager Aviva in a deal worth more than £3m.
The 11-acre site off Dallam Lane to the north of the town centre is next to Warrington Wolves’ rugby league stadium and has significant potential for greater income generation, the firm said.
Martin Mellor, property director at Langtree, says: “Warrington Central Trading Estate is currently only 50 per cent let and as a big edge-of-town site with good long term potential, it’s a perfect fit for our investment portfolio.
He added: “We will shortly start work on a substantial upgrade programme to enhance the site. We feel that these works combined with the location will position the estate to readily attract new tenants.”
Following the upgrade works, Langtree will offer units ranging from 2,000 sq ft to 20,000 sq ft. In addition, there is approximately 2.5 acres of hardstanding space which the Newton-le-Willows firm intends to let as open storage.
Mellor added: “Langtree is an active investor in sites like this and we’re keen to acquire more. People are coming to us with opportunities and I expect we’ll be doing more deals in the coming months.”
