Pension fund buys Cotton Traders’ HQ
THE Altrincham headquarters building of clothing retailer Cotton Traders has changed hands.
A private pension fund has acquired Ocean Court on Atlantic Street from another pension investor.
The sale price was not disclosed but agents were asking around £650,000.
The indentity of the funds was not disclosed but neither was linked to Cotton Traders which was founded by former England rugby captains Fran Cotton and Steve Smith and is part-owned by Next.
Ocean Court has 7,110 sq ft across two floors. Cotton Traders is the sole tenant generating £95,000 a year on a 25-year lease which expires in July 2021. TFC & Pure Real Estate Solutions acted for the vendor.
Ben Fallows, a director at TFC, said: “The building represented an ideal opportunity to buy into a good covenant in a popular location, which ticked a lot of boxes for prospective purchasers. The investment had a number of angles and the sale generated interest with three bids received.”
