Booth Charities acquires trade park for £7.25m
The Trustees of the Booth Charities has acquired Holmes Chapel Business & Trade Park in Cheshire from InfraRed Capital Partners for £7.25m, reflecting a net initial yield of 6.7%.
The multi-let estate offers 108,990 sq ft of industrial space across 15 units, which vary in size from 15,032 sq ft (1,396 sq m) to 2,296 sq ft (213 sq m).
It is fully let to occupiers including Avante Garde Distribution, JMH Automotive (Ltd) and Skelair (International) Ltd for a combined annual rent of £519,168, with an average weighted unexpired lease term of 6.4 years.
The estate is on Manor Road and Station Road in Holmes Chapel, close to Junction 17 and Junction 18 of the M6.
Nick Okell, investment director at Savills Manchester, which represented Booth Charities, said: “This multi-let industrial estate offers excellent investment credentials with an attractive yield and numerous asset management opportunities. We are pleased to have secured the deal on behalf of our client.”
InfraRed Capital Partners was represented by Christopher Dee.
