Liverpool investment firm buys two Denton office buildings in £1.8m deal
Liverpool-based Yakel Investments has acquired 16,800 sq ft of multi-let office accommodation across two buildings in Denton, Beta and Epsilon House, for £1.8m.
The buildings provide a mix of floorplates between 1,000 sq ft and 3,000 sq ft, and are currently 90% let, with an ERV (estimated rental value) of £214,026 per annum and a WAULT (weighted average unexpired lease ter) of 7.5 years.
The properties benefit from easy access to the M60 (Junction 24), the M67 and A57, and are well-situated in a prominent mixed use area.
Yakel plans on refurbishing the vacant 2,000 sq ft ground floor suite in Beta House before bringing it to the market to let.
Samuel Farage, managing director of Yakel, said: “Both Epsilon House and Beta House represented a fantastic opportunity to invest in the Denton area, which has benefited from supply constraints and the exponential growth in the Manchester market.
“These properties possess strong fundamentals and we expect steady rental growth from a range of occupiers.”
He added: “With good asset management potential in the short term, these assets align well with our investment mandate which we are keen to expand as we investigate further opportunities to acquire in the North West.”
GVA acted for Yakel Investments and RiddellTPS acted for the vendor.
