Investor pays £2.7m for Parcelforce depot

COMMERCIAL property landlord Hansteen has sold the 72,600 sq ft Parcelforce Worldwide distribution warehouse in Liverpool to a private investor for £2.75m.

The Link at Huyton Business Park was let to Royal Mail Group on a 15-year lease with no breaks last year.

Agent Jones Lang LaSalle said the deal represented a net initial yield of 7.5%.

James Porteous, director at Jones Lang LaSalle, said: “We received strong interest in this property throughout the sales process. This is another great example of the increased demand for good quality, well let, secure investments in the region from private investors, even for a lot size as large as this.  

“Huyton is very well located for the North West motorway network and investors continue to seek assets which are in good locations with solid property fundamentals.”

Steerforth Partners acted for the buyer.