GXO Trafford Park shed hits market for £20.5m
Fidelity Investments is shopping for a buyer for the freehold of Centrepoint Five, a 179,000 sq ft distribution warehouse that is fully let to the global logistics company.
The £20.5m guide price reflects net initial yield of 6%, according to Centrepoint Five agent Carrick Real Estate. This equates to a capital value of £114/sq ft.
The EPC B-rated industrial facility at Trafford Park comprises 20,800 sq ft of offices spread out across three storeys and a 158,100 sq ft main warehouse. There are 10 dock-level loading doors and two level-access ones. A secure site, the facility has a 100 sq ft gatehouse as well.
Centrepoint Five has a 1MVA power capacity, which is well used by the current tenant.
GXO Logistics’ lease for Centrepoint Five expires 15 March 2028, with the company paying £1.3m in rent each year in the meantime. During its lease period, GXO refurbished the ground-floor office of the property, including the canteen, reception, and toilets. It also added a hub office overlooking the yard and internal chill store and freezer provision.
Situated on an 8.6-acre plot off Westinghouse Road, the Trafford Park shed is just a mile away from Junction 9 of the M60, with Junction 10 also close by.
As for rail connection, Centrepoint Five is a mile from the Trafford Park Euroterminal, which oversees the transport of more than 100,000 containers a year.
For commuters, the Parkway Metrolink station is also a few minutes’ walk away. The facility also has its own separate, but dedicated, parking area with 130 reserved bays.
As part of Trafford Park, Centrepoint Five is in the heart of one of the largest industrial estates in the country. More than 1,400 businesses are based on the 1,800-acre park, including P&G, Adidas, Unilever, and Esso.
