Warrington estate in MStar buyout

A WARRINGTON industrial estate has changed hands as part of £9.4m deal.

The site on Clayton Road, Birchwood is part of a portfolio of four sites acquired by MStar, a joint venture between US-based Starwood Capital Group and London’s M7 Real Estate, from AXA REIM.

The other estates are in Sheffield and West Bromwich. In total they cover 366,000 sq ft and are let to a variety of tenants including The BSS Group, Wolseley Centres and Bayliss Automotive.

AXA REIM was unrepresented while MStar was advised by the Birmingham office of Savills.

Savills investment director Ned Jones said: “This portfolio boasts strong fundamentals and offers our client potential for good long term income generation. We continue to see investor appetite growing for industrial property in the regions, with the ability to gain higher returns than for the equivalent product in the south east.”