Glenbrook Bootle
The deal includes 11 units offering a total 45,000 sq ft. Credit: via Inform Communications

Glenbrook sells Bootle industrial

Neil Tague

The firm’s investment business has completed the disposal of a multi-let industrial estate in the Merseyside district for £1.2m, achieving a net initial yield of 7.16%.

Located on Effingham Street, the terrace of buildings comprises 11 units offering a total of 44,802 sq ft of industrial accommodation.

Occupiers include Mr Chef, Faulkner Holdings and A&B Services.

Chris Lloyd, investment director at Glenbrook, said: “We purchased this terrace in 2018 as part of a wider industrial portfolio and the original business plan was to hold this asset for 10 years.

“However, since the original acquisition we have seen demand from both occupiers and investors increase exponentially. We therefore took the decision to dispose of the asset with a view to reinvesting the proceeds into more add-value opportunities.”

The buyer is a private investor. Both parties were unrepresented by agents. Brabners acted for Glenbrook on legals.

Glenbrook has been busy across market sectors. In September the company’s Trilogy BTR development off Chester Road, Manchester, a scheme funded by Moorfield, was sold to Barings for £53.5m while the Stok office scheme in Stockport is due for completion in December.

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