Local authority in £13m deal on Warrington property
Texton Property Fund has disposed of Stanford House, in Birchwood, to Warrington Borough Council.
While the Local Democracy Reporting Service announced details that Warrington Council had entered into the process to acquire the property, it is understood that this transaction has only recently completed, in the region of £13m.
The property is let to phone and internet giant Talk Talk and it is understood that they have seven years unexpired, although they are not in occupation.
The current rent on the property is around £1m per annum.
The property comprises a 54,793 sq ft office building arranged on two floors with 380-car spaces and situated opposite Warrington Council’s Birchwood Park, which they acquired last year.
The acquisition of Stanford House follows the council’s recent acquisition of its £26.1m acquisition of the Eddie Stobart headquarters at Stretton Green.
Gary Scorah, of Commercial Properties, advised Texton, and Andrew Crompton, of Riddelltps, acted for Warrington Council.