Acting on behalf of property company Conygar, Knight Frank has completed the sale of four industrial units on the Manor Park industrial estate in Runcorn.
The properties were acquired for £3.4m by property fund AEW, at a net initial yield of 8%. The Sarus Court units total 56,000 sq ft and are let to two tenants, bringing in a total rent of £284,924 a year.
Tom Dawson, senior surveyor at Knight Frank, said: “This transaction is one of a number of recent, multi-let industrial investment sales across the North West. With the occupational market remaining strong, there is an increasingly high demand for these types of opportunities, particularly in the regions outside of Manchester, including Cheshire and Liverpool.”
Manor Park is a 300-acre office and industrial park north of the A558, close to the M56. The estate is occupied by DHL, Eddie Stobart, Lidl, UK Mail, Kuehne & Nagel, Howdens Joinery, Rehau, Matthew Clark and B&M Bargains.
Cushman & Wakefield acted for AEW.