Asics warehouse sold
19 August 2014 09:40
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B8 Real Estate, acting on behalf of Chestergate Properties, has sold a 32,985 sq ft industrial unit on Europa Boulevard, Gemini Business Park, Warrington for £2.635m.
The property is let to running shoe maker Asics UK and was bought by Greenstone Sovereign. The sale price reflected a net initial yield of 8.75% after purchaser's costs of 5.8%.
John Burrows, investment surveyor at B8 Real Estate, acted on behalf of Chestergate Properties. He said: "The sale re-affirms strong investor demand for well let assets within established industrial locations such as Warrington."
Greenstone Sovereign was represented by Harvey Richards & West.
