Industrial estate bought in £9m deal

Deal done

An industrial estate in St Helens has changed hands for £9.0m.

AEW UK Long Lease REIT plc has bought Pocket Nook Industrial Estate, a 16.1 acre site that generates almost half of its income from Biffa Waste Services, which has a lease until 2134.

Alex Short, director of AEW UK Investment Management LLP, said: “This industrial site adds to the diversity of our growing portfolio of properties, which so far includes two hotels, a waterpark and a gym.

“We are also pleased by the strength of the income that this asset provides and, in particular, Biffa’s increasing commitment to the location with the addition of a second unit.”

The site has two other tenants, including the Driving Standards Agency. The Merseyside site is located 0.8 miles away from St Helens town centre and benefits from its proximity to the M57, M6 and M62.

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