Private pension fund buys Cotton Traders HQ

A private pension fund has acquired the office investment at Ocean Court, Atlantic Street, Altrincham.

The entire property is let to Cotton Traders on a 25 year lease, expiring July 2021, at a passing rent of £95,500 per annum. The two-storey detached office building comprises a total of 7,110 sq ft on ground and first floors with 33 parking spaces. A £650,000 guide price was quoted by the agents when the property went on the market in August 2013.

Ben Fallows, director of TFC, said: "The building represented an ideal opportunity to buy into a good covenant in a popular location, which ticked a lot of boxes for prospective purchasers."

TFC and Pure Real Estate Solutions acted for the vendor, a private pension fund.