Warrington property proves popular investment

Carrick Real Estate has sold a unit at Cinnabar Court, Daresbury Park, Warrington, on behalf of its charitable trust client.

The investment sale achieved a value of £1.385m, reflecting a net initial yield of 7.23%.

Unit Three Cinnabar Court, which is fully let to Greensill Capital UK for a further eight years, has been sold to a new private investor represented by Commercial Properties.

Located within the well-established Daresbury Park, the unit at Cinnabar Court provides Grade A open-plan office accommodation, totalling 6,072 sq ft over two floors.

The asset also includes 30 car parking spaces.

Speaking about the investment transaction, Steve Carrick, partner at Manchester-based Carrick Real Estate, said: “We have worked strategically with our client to bring this asset to market at a time when the North West has a lack of investment stock.

“The tenant’s covenant strength, lease length and quality of the real estate meant the opportunity was well received.”

He added: “We are delighted to have concluded a swift investment transaction.”

Carrick Real Estate acted for the vendor, a charitable trust.

Commercial Properties acted for the purchaser, a private investor.