Advised by industrial specialist LM6, Oceanic Estates has purchased the former Baldwin Filters regional distribution facility at Preston Brook in Runcorn for a price understood to be around £8.4m.
Known as The Cube, the 153,000 sq ft facility is being offered for lease at a quoting figure of £5.50 per sq ft per year. Oceanic is based in Southampton.
Phil Morley, director at LM6, said: “This is one of the largest distribution units sold this year in the region and this latest investment by Oceanic Estates is further evidence of sustained confidence in the North West Industrial sector.
“The Cube replenishes and provides much needed warehousing stock in the region which has seen notable occupier take-up in recent months with significant deals including FTS Hatswell, Soak, Sykes Foods, Amazon and Movianto.”
Sam Royle, associate at Cushman & Wakefield, which represented the vendor, said: “This is a unique distribution building in a strategic logistics location, close to the M56/M6 junction.
“The 28m high unit occupies a commanding position in Preston Brook, within a self-contained site of 9.6 acres and given the current supply imbalance of premium warehousing, we expect keen occupier interest.”
Along with Savills, Cushmans and LM6 are retained as joint agents.