Development and investment firm extends ownership at Winsford Industrial Estate

Manchester-based development and investment firm, Pitalia, has completed a sale and leaseback investment at a key industrial estate in Cheshire in a move that further expands its footprint in the North West.

Pitalia Real Estate has bought the freehold of a 71,225 sq ft warehouse on the Winsford Industrial Estate for £3.58m.

The warehouse will be leased back over 10 years to an undisclosed tenant at a rent of £305,000 per annum, with a tenant break after five years.

Last year, Pitalia Real Estate completed the £8m acquisition of units 1-3 on Road Five at Winsford Industrial Estate.

Fisher German, which advised the vendor as to the cost-effective nature of raising capital through a sale and leaseback process, was the selling agent.

Rupert Collis, partner at Fisher German, said: “The site at Winsford Industrial Estate has been a key production facility for our client in recent years, which has shown consistent profitability and this transaction allows further investment into the business to facilitate continued growth.

“Fisher German, through proactive marketing, was able to generate a lot of interest from investors, delivering a sale at a competitive price and with favourable leaseback terms, in what has proved to be a reasonably volatile market.”

Greg Ball, investment and development director of Pitalia Real Estate, said: “Winsford is a key strategic location in our portfolio so we moved quickly to secure this opportunity to expand our footprint here. We now have well over 250,000 sq ft on the site.”

Matt Pochin at Legat Owen represented Pitalia Real Estate.