Flintrock sells Knowsley warehouse for £29.6m

RTP Global RE Investment has purchased Venus 217, a 217,765 sq ft unit off Moorgate Road.

Venus 217 was speculatively built two years ago and has 20 dock-level loading doors, two ground-level loading doors and three-storey offices. Venus 217 also features a 60 metre-deep concrete yard area.

The warehouse is currently let to an e-commerce company. B8 Real Estate handled the letting, which is for 10 years at a rent of £5.95/sq ft.

Jon Thorne, agency director at B8, said: “The letting represented a significant deal for the Merseyside area which further cements Knowsley as one of the region’s most desirable locations for industrial and logistics occupiers given its connectivity to the Port of Liverpool and road network. We expect the success of this scheme to fuel further large-scale speculative development in the Merseyside area in the coming months.”

B8 also advised Flintrock on the sale to RTP. RTP was represented by Gerald Eve.

The sale of Venus 217 is one example of the market’s increased demand for industrial units. Simon Wood, investment director at B8, said Venus 217 had received a lot of interest since it hit the market in May.

“The sale highlights the continued demand for grade A distribution space in the North West and the importance of Knowsley as a major industrial location,” Wood said.

“B8 Real Estate are pleased to have been involved throughout this scheme, working with our client to advise on the development, letting, asset management and sale. Demand from investors has never been stronger. The speculative build of Venus 217 shows real foresight on Flintrock’s part and has resulted in an excellent outcome for all parties.”