Warrington fire control centre sold for £19m
A group of private investors has acquired the building from where the region’s 999 calls are handled from Jersey-based AAIM Warrington Trustee at a net yield of 7.3%.
The North West Operational Fire & Rescue Headquarters is home to the fire authorities of Greater Manchester, Cheshire, Lancashire and Cumbria, and the lease runs until 2033.
The 25,000 sq ft building was built in 2009 as part of the Clearwater development at Lingley Mere Business Park in Warrington.
The centre cost £14m to construct and was one of nine “super-centres” planned to be rolled out across the UK to replace 46 previous local facilities under a scheme that launched in 2004.
The plan was scrapped in 2010 due to mounting costs, but the centre finally opened four years later, after the occupiers secured a £37m government grant due to ongoing concerns over the previous building’s functionality.
Craig Barton, investment partner at Cushman & Wakefield, said: “The process was highly competitive, as there is strong appetite for quality buildings with long-term income, let to good tenants.
“It is also another a reflection of the strength of Warrington, both as a destination which occupiers desire, and which investors want to secure real estate within.”
Cushman & Wakefield represented the vendor. The purchasers were represented by Deutsche Bank.
