Buccleuch Property has acquired two industrial units totalling 83,000 sq ft on Northbank Industrial Estate in Irlam, Salford, for £4m.
Standard Life was the vendor.
The warehouses are located on a four-acre site, and are let to tenants Acdoco and TBS Fabrications. The deal represents a yield of 9.25%.
Situated between the M60 and M6, Northbank Industrial Estate is an established commercial park. Occupiers include CAT Logistics, UPS, Biffa, CEVA Logistics, Babcock and DPD.
Philip Eves, director at Buccleuch Property, said: “This site is a strong addition to our industrial portfolio and sits in line with our strategy to invest in good quality assets in core locations.
“We continue to actively seek new investment and development opportunities across the UK.”
Zaman Roberts represented Buccleuch Property while Standard Life was advised by JLL.