GM Pension Fund sells industrial estate
28 August 2012 09:30
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Greater Manchester Pension Fund has sold Roundthorn Industrial Estate near Manchester Airport to Columbus Capital for £6.85m, reflecting a net initial yield of 10.10%.
The multi-let industrial estate contains 21 units, totalling 210,000 sq ft and is located in Greater Manchester's enterprise zone.
DTZ advised GMPF and has now advised on 1m sq ft of multi-let industrial transactions in the past three months. The agent also advised on the sale of Stakehill Industrial Estate on behalf of Aviva Investors.
Simon Lowe, associate director at DTZ, said: This is a good result and proof that there is still demand for good quality assets, despite the underlying market difficulties we are faced with."
Columbus Capital was represented by Savills.
