Runcorn industrial estate changes hands

A CHESHIRE industrial estate has changed hands in a £1.6m deal.

Jensen Court Industrial Estate at Runcorn, Cheshire, has been sold by real estate advisers Colliers International on behalf of Urban Waterside to Chester-based Tilstone Estates.

Jensen Court comprises 43,568 sq ft of industrial accommodation on a 4.997 acre site, The deal represented a net initial yield of 9%.
 
It  has 14 fully occupied industrial units and has been comprehensively refurbished by Urban Waterside. Its tenants include Hire Station, A A Glover, The Stearne Group, Pyrotherm, IAC and NBC Group.
 
Julien Kenny-Levick, director, industrial and logistics at the North West office of Colliers International in Manchester, acted for Urban Waterside, which is based in Hale, Greater Manchester.

The estate is adjacent to the A533 Bridgewater Expressway and close to junction 12 of the M56, offering easy access to the M62, M6 and regional motorway network. It will also be on the new Mersey Gateway route that is due to open in spring 2017.
 
Mr Kenny-Levick said: “This sale to Tilstone Estates demonstrates that there is an increasing appetite from investors to acquire well let, multi-unit investments where rental growth is anticipated.”