Industrial estate changes hands in £2.55m acquisition
Legat Owen has completed the investment sale of a 33,585 sq ft industrial unit on Winsford Industrial Estate to St John’s High Income Property Fund, in a deal worth £2.55m.
Located at the northern end of Road One, the property is let to Antalis for a term expiring on September 28, 2023, at a rent passing of £180,000 per annum (£5.36 per sq ft).
The established estate is home to companies including Tiger Trailers, Henkel, Iveco and Advanced Medical Solutions Group.
Matt Pochin, Legat Owen director, said: “The industrial investment market continues to attract buyers, even with short term income.
“The general lack of stock and high level of enquiries supports purchases where previously buyers would have been mindful of up-and-coming lease expires.”
David Nairn, of Dana, acting for St John’s, said: “This was an attractive purchase for the fund offering a strong and improving location with high eaves giving further flexibility in the buoyant distribution sector.”
The investment objective of the fund is to carry on a property investment business and manage cash raised from investors for investment in the property investment business with the aim of providing high income and long-term capital appreciation with a bias towards income.
Legat Owen represented a private client from London. Ingram Winter Green Solicitors advised the vendor.