Cheshire-based property investment company Hollins Murray Group has acquired Bishops Court, a 110,000 sq ft industrial estate in Winwick Quay, for £4.25m.
The purchase from a private vendor reflects a net initial yield of 5.14%.
Bishops Court is made up of eight semi-detached industrial units. Five of the eight units on the estate are let to occupiers Bliss Supplies, Newton-Le-Willows Blinds, Optibelt, Waveguide Lighting Limited and Fridge Rentals.
Nick Casson, chief executive of HMG, said: “Bishops Court is a classic example of an asset where we can put our in-house asset management skills to work. I am pleased to say that our immediate commitment to significantly invest in the estate has led to us securing new lettings to Yodel and Secured Mail on the three remaining units.”
King Street Commercial acted on behalf of HMG. WHR acted for the vendor.