Schroders has purchased the 80,000 sq ft Stag Industrial Estate in Altrincham from LaSalle IM for £7.5m
Schroder’s Multi-Let Industrial Property Unit Trust bought the site on Altantic, which is currently home to 19 tenants, including Brandon Hire, Crown Paints, Edmundson Electrical, and Plumbase.
Schroders’ purchase price reflects a net initial yield of 5.9%. Cushman & Wakefield acted for Schroders and JLL acted for LaSalle IM.
Graeme Rutter, head of Schroders Real Estate Capital Partners said: “This is another important acquisition, as it fulfils three important objectives for MLIPUT in providing regional diversification, spread of tenant risk and a great opportunity to re-position and add value.”
Simon Marshall, associate at Cushman & Wakefield, added: “The South Manchester industrial market continues to attract good occupier demand, and with a dearth of new supply, quality estates like Stag are set to reap the rewards of strong rental growth.
“Stag Industrial Estate not only offers a secure income stream to a quality tenants, but the potential to capitalise on an increasingly trade focussed location.”