AEW buys The Bear for £3.6m

AEW UK Core Property Fund has acquired The Bear, a single let high bay industrial warehouse in Widnes, Cheshire, for £3.6m.

The 103,215sq ft property is in Towngate Business Centre on Ditchfield Road.

It benefits from easy access to the motorway network and is 14 miles east of Liverpool and six miles west of Warrington – an important area for big sheds (units above 100,000sq ft).

The latest acquisition follows the purchase of a former tea factory in Crewe, along with warehouse units in Walsall and a former cinema in Uxbridge for a total of £16.5m.

Richard Tanner, AEW UK Core Property Fund portfolio manager, said: “As the final quarter of the year comes to a close, we are very happy to have completed this acquisition and look forward to continuing to focus on providing investors exposure to a diversified, multi-sector portfolio of commercial property assets in the New Year.”