In brief: Cotton Traders HQ on the market; Clarion grows & more
A PRIVATE pension fund has instructed commercial agents TFC and Pure Real Estate Solutions to sell an office investment at Ocean Court, Atlantic Street, Altrincham.
The agents are quoting a price of £650,000 for the freehold of the property which is let to retailer Cotton Traders on a 25-year lease expiring July 2021 at a passing annual rent of £95,500 per annum.
The two storey detached office building comprises a total of 7,110 sq ft on ground and first floors with 33 parking spaces.
Ben Fallows, director at TFC said: “The building represents an opportunity to buy into a net initial 13% yield to a good covenant in a popular location, which will tick a lot of boxes with prospective purchasers.”
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CLARION Wealth Planning, the IFA and and wealth management firm, has expanded in its home town of Knutsford.
It has taken a lease on an office suite located at 123 King Street, Knutsford, next-door to its office at Marble Arch. Clarion has increased staff numbers from 10 to 17 over the past year.
Ron Walker, founder and managing director, said: “2012 and 2013 have been busy years for us so we decided, rather than face the distraction involved in moving our operations wholesale to a new office, we would simply expand next door – at least as a temporary measure.”
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AQUARIUM Software of Hale near Altrincham, is one of three North West companies shortlisted by corporate finance firm Clearwater.
The list, dubbed Cloudex 20:20, was compiled based on a variety of criteria, including innovation, the amount of income derived from the cloud, customer base, and turnover and profit growth.
Alongside Aquarium. MPP Global Solutions of Warrington and Wigan firm Valueworks have been shortlisted. An overall winner will be announced at an awards ceremony later in the year.
Mark Colonnese, director of sales and marketing at Aquarium, said: “There are some dynamic, innovative and capable businesses in the Cloudex 20:20 shortlist. So for Aquarium to be in there a little over seven years after our inception is both exciting and humbling.”
