Huyton Parcelforce depot sold for £2.75m

Simon Donohue

Jones Lang LaSalle has sold the 72,600 sq ft Parcelforce Worldwide Distribution Warehouse at The Link, Huyton Business Park, on behalf of Hansteen.

The property was let to Royal Mail Group on a 15-year lease with no breaks last year and has subsequently been sold to a private investor for £2.75m, reflecting a net initial yield of 7.5%.

Jones Lang LaSalle director James Porteous said: "We received strong interest in this property throughout the sales process.

"This is another great example of the increased demand for good quality, well let, secure investments in the region from private investors, even for a lot size as large as this.

"Huyton is very well located for the North West motorway network and investors continue to seek assets which are in good locations with solid property fundamentals."

Jones Lang LaSalle acted on behalf of Hansteen while Steerforth Partners acted on behalf of the buyer.

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