Mileway acquires Warrington industrial
Tandem Investments has flipped a 41,000 sq ft terrace of four units at Barleycastle Industrial Estate.
Having acquired the Warrington asset for £3.85m in May 2023, Tandem has now sold it on to Mileway with a new roof for just shy of £5m.
The scheme is occupied by Sherd-It and Evander Living Protected.
Chris Lloyd, director at Tandem Investment, said: “We are pleased to have concluded this sale in line with our business plan.
“Undertaking the roof replacement whilst the tenants were in occupation was important to as it allowed us to remove the original asbestos sheeting and deliver an institutional grade asset.”
PK3 and Aaron & Partners represented Tandem Investments. B8 Real Estate represented Mileway.
James Kinsler, director at PK3, said: “We acquired this on our client’s behalf in speedy fashion, and it is now pleasing to conclude the sale in similar fashion to a strong purchaser.
“Our client executed the business plan well and it’s nice to see Tandem’s strong track record expanding ever further”.
Mileway is no stranger to the refurb market. The investor secured a 185,000 sq ft lease to Sambro at the former Eurosonic site in Bury earlier this year. 3D Warrington South and Fairoak 42 in Runcorn also sit within Mileway’s secondhand portfolio.
