Merseyside warehouse estates sold for £20m
Network Space has completed the sale of Compass Industrial Park, Liverpool, and Lea Green Business Park, St Helens, in an off-market deal to a joint venture between C2 Capital and Morgan Stanley Real Estate Investing.
Compass, formerly known as Speke Hall Industrial Estate and Sky Park International, is located on the approach to Liverpool Airport. Network Space bought the sites in 2012 and has since undertaken a £2m building and facilities refurbishment programme.
Lea Green Business Park, located on the St Helens Linkway, is a former factory bought by Network Space in 1996 which was then extended, refurbished and subdivided into a multi-let estate.
Richard Ainscough, group managing director of Network Space, said: “We are very proud of the job we have done at Compass, we have returned a failing industrial estate to its full potential. Businesses and employment have returned to the extent that it has attracted inward, international investment into Liverpool. The proceeds from this sale are already earmarked for new investment and development of employment workspace in the Liverpool City Region.”
Network Space is an investor, developer and manager of commercial property across the North and Midlands.
Network Space was represented by Simon Wood of B8 Real Estate; C2 Capital was represented by Will Ikin of Buchanan Bond.