Henderson puts offices on market
Henderson Global Investors plans to sell one of its few North West assets, marketing a portfolio of office buildings in Warrington Centre Park with a guide price of £2.5m.
Buildings Two, Four, and Five at Mandarin Court produce £305,455 a year and are let to multiple tenants. The 6,066 sq ft Building Two is occupied by THQ Digital Studios UK on a five-year lease that began in February 2010. Building Four, 7,972 sq ft, is leased to Latitude Digital Marketing on a 10-year lease which began in June 2010. Nuclear skills company Cogent SSC occupies the 6,037 sq ft Building Five on a five-year lease which began in May 2011.
All are detached two-storey office buildings with parking. Warrington Centre Park is on the southern edge of Warrington town centre, close to the M56, M6 and M62 motorways. Other occupiers on the rest of the park include Bank of Scotland, New Balance, Torex, Group 4 Security, Countryside Homes and Rotary.
Steve Carrick, partner at Knight Frank, retained to market the portfolio, said: "We are instructed to seek offers in excess of £2.5m which reflects an attractive net initial yield of 11.54%, after purchaser costs of 5.8 %. These three buildings are being marketed as a package however our client may also consider offers for the buildings on an individual basis."
