Langtree buys in Trafford

Developer-investor Langtree has paid £1.6m to buy a 27,350 sq ft industrial unit in Trafford Park from an unnamed private property company, at a net initial yield of around 9%.

The asset was marketed at a guide price of £1.7m by WHR Property Consultants. Travis Perkins subsidiary CCF, formerly Commercial Ceiling Factors, occupies the unit on a 20-year lease from June 2001 at a passing rent of £148,500 a year.

The self-contained industrial unit is situated close to the Guinness Circle Roundabout on Trafford Park.

Richard Ainscough, managing director of Langtree Commercial Property, said: "We are delighted to have acquired unit B Guinness Circle in a deal reflecting a yield approaching 9%.

"Langtree CP is an active investor in properties like this and we're keen to acquire more. We have a number of other possible acquisitions under consideration and I expect we'll be doing more deals in the coming months. It's certainly good to be on the continued acquisition trail."

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