Winwick Quay Business Park sold
The 400,000 sq ft industrial business park has been bought by LaSalle Investment Management for around £24m, a yield of 7.5%.
The 25-acre site was sold by Winwick Quay LLP, a consortium of private investors.
The estate comprises Cameron, Colville and Chetham Courts, with a range of units available of between 3,000 sq ft and 30,000 sq ft. There is planning consent granted in 2010 for a further 70,000 sq ft of warehouses.
Occupiers include Pure Gym, LA Bowl, Safestore and Autoglass.
Winwick Quay LLP bought the park in 2008 from AXA Real Estate for around £20m.
Riddell TPS represented Winwick Quay, and Colliers International advised LaSalle.
Jonathan Hawkes, fund manager at LaSalle, said: "Improving occupier sentiment, particularly in strategic locations such as Warrington, combined with the strong fundamentals of the estate means that this purchase is well aligned with our investment strategy."
