Agecroft warehouse sold for £4.8m
PROPERTY investor Custodian REIT has bought a 70,000 sq ft warehouse in Salford for £4.8m.
The site at Agecroft Commerce Park is let to Cintas Document Management on a lease which runs until 2028, generating an annual rent of £403,676.
Custodian said it funded the deal from its existing facilities.
Richard Shepherd-Cross, managing director of Custodian Capital, the company’s external fund manager, said: “This modern industrial unit offers a high-specification warehouse to its tenant and in return will generate stable, long-term income for Custodian REIT, supporting the target return.”
The identity of the vendor was not disclosed.