Bruntwood sells Trafford Park industrial estate

MANCHESTER property group Bruntwood has sold Broadoak Business Park in Trafford Park to Aviva Investors for £4.4m.

The estate has 14 units across 66,300 sq ft which is let to tenants such as Kier MG, Neville Johnson and Rexel UK who generate annual rents of £385,000.

The deal represents a net initial yield of 8.2%. Colliers advised Aviva, while Knight Frank acted for Bruntwood.

John Hanson, director in Colliers national investment team said: “The park benefits from a strong occupational market with businesses wishing to be located close to Manchester city centre and also benefit from excellent access to the M60 motorway.

“The estate has a strong history of tenant retention and offers good re-letting prospects. We are confident that this multi let industrial investment offers Aviva Investors with the ability to add value through asset management.”