Property briefs: Remploy sites on the market; HIMOR buys B&Q site, and more…

SEVEN manufacturing and warehouse sites that were part of the Remploy network have gone on the market.

Remploy trains and employs people with disabilities but in July the government earmarked 27 sites for closure, saying it would focus on other forms of support.

Johnson Control Systems, asset manager of the state-owned portfolio, has appointed Davies Harrison to market the sites.

Six properties, ranging in size from 14,680 sq ft to 84,636 sq ft, in Birkenhead, Bolton, Oldham, South Manchester, Wrexham and Wigan are for sale. 

A 29,812 sq ft warehouse on Longridge Road in Preston is available on a leasehold basis with quoting rental levels from £4.50 per sq ft. 

Rick Davies, partner at Davies Harrison, said: “This is an extremly important and high profile instruction for us.  All the properties are strategically situated in prominent locations and offer a diverse range of potential end uses including redevelopment.”

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NEWTON-le-Willows property group HIMOR has spent £3.63m on a B&Q in Swinton, Salford.

The 10,000 sq ft store, owned by a private investor, is let to B&Q on a 35-year lease. Annual rent is £336,000 a year, or £10.54 per sq ft.

Colliers International, which acted for HIMOR, said the deal represented an initial yield of 8.75%.

Colliers director Chris Bampton said: “As this transaction demonstrates, there is appetite from investors for the right stock at the right price.

“Properties with strong tenant covenants and the potential to add value through future asset management and enhancement are particularly attractive.”

Jones Lang Lasalle and Mason Philips acted for the private vendor.

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AGENT Sanderson Weatherall has sold the former base of Royden Engineering in Rainford, St Helens. 

Royden Engineering, which designed, fabricated and erected structural steelwork, entered administration in September 2010.

The 38,333 sq ft site, which has a workshop, warehousing and office facilities, was bought for £300,000.

Rory Dillon, surveyor at Sanderson Weatherall said: “We are encouraged to see that demand for industrial premises in this area is starting to improve.”

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PLAY centre operator Brookes Group has taken a 10-year lease on a 6,000 sq ft purpose-built children’s activity centre at the Leisure Lakes complex near Ormskirk, Lancashire.

The centre is due to open in six weeks’ time within the 400-acre complex. Bury agent Nolan Redshaw handled the letting on behalf of Leisure Lakes.

Nolan Redshaw director Mike Redshaw said: “Following on from the recent growth of the golf complex within the park, this completes the first phase of the redevelopment of Leisure Lakes and we are delighted to have found such a high profile tenant for the development.

“This is also suggests that the economy is slowly beginning to turn and that West Lancashire is an increasingly attractive location for inward investment.”