Knowsley industrial site sold

GUERNSEY-based property investor Jolivet Group has bought a large industrial site in Knowsley from administrators.

Moorgate Point, which had a guide price of £5.25m, contains almost 400,000 sq ft of industrial accommodation and 37,000 sq ft of offices, is a 21-acre site with an additional 6.3 acres of land available for development. It is home to 10 tenants and currently produces a net income of £835,000 per year.

Jolivet Group was advised on the deal by Manchester-based OBI Property. Investment partner Gary Scorah said: “The acquisition represented a fantastic return to the purchaser who acquired the property at a reasonable capital value.”

Jolivet’s Simon Storer said: “Moorgate Point is a perfect fit to our existing portfolio of predominantly industrial investments.

“We will be actively working with the existing occupiers and implementing our asset management strategies to enhance the investment further.”