Warehouse bought for £5.5m by property investor

A WAREHOUSE at Winsford Industrial Estate in Cheshire has been bought by listed property investment company Custodian REIT for £5.55m.

The 105,757 distribution unit is let to H&M and Mauritz UK. Current rent is £423,000 a year, reflecting a net initial yield of 7.15% with an expected revisionary yield of about 8.5%.

The facility is 10 miles from junctions 18 and 19 of the M6. Nearby occupiers include Henkel, Iveco and Jiffy Packaging.

Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the company’s discretionary investment manager), said: “We are delighted to have secured this modern, well located unit let to a market leading high street retailer. 

“This recently refurbished unit is one of H&M’s three UK distribution locations and includes circa 1.8 acres of potential expansion land to meet future requirements.”