Warwick completes triple purchase in Whiston

DTZ's residential agency team has secured the sale of three properties in Delph Lane, Merseyside, on behalf of the St Helens and Knowsley Teaching Hospitals NHS Trust.

The properties were sold to Manchester-based Warwick Investments for an undisclosed sum.

The four vacant residential blocks providing 36 flats over 26,000 sq ft were formerly used as accommodation for doctors and nurses. Included in the sale was a 2,000 sq ft office building and a 0.25 acre plot of land.

Warwick Investments intend to undertake full refurbishment of the site with a view to letting the flats following completion.

Michal Skotny, associate director at DTZ, who acted on behalf of the NHS Trust, said: "The sale of the properties provides a capital injection to the NHS Trust, and also will see the refurbishment and bringing into use of the residential accommodation.

"This will provide additional residential stock to the area whilst also eliminating any anti-social behaviour associated with vacant properties."

There was strong interest for the property, with five offers submitted.

Skotny added: "The competitive nature of the offers submitted demonstrates that, despite challenging funding conditions, there is strong demand from developers for investments in the North West where there are asset management opportunities."