Northern Trust buys in Blackpool
The Lancashire property company has acquired Clifton Trade Park in Blackpool for an undisclosed sum.
The investor, part of Trevor Hemmings’ business group, was advised by B8 Real Estate on the deal, with the vendor Murphy Young being represented by GVA.
The multi-let industrial estate totals 34,479 sq ft and comprises a mixture of industrial and trade counter units and studio office suites. The park is located at the end of the M55, close to the A5230.
John Burrows, investment surveyor at B8 Real Estate, said “The estate has a good occupancy record with many long-standing occupiers, demonstrating both the quality of the accommodation and strength of the location, with excellent access to both the M55 and Blackpool town centre.
“We have recently released our biannual market report, which shows continued occupier demand across the SME market, as a continued lack of supply has resulted in low void rates and increased rental levels across the region.”
The deal bolsters Northern Trust’s portfolio in Blackpool, adding to the 69,000 sq ft Blackpool & Fylde Industrial Estate.
Tom Parkinson, director at Northern Trust, said: “We have been long-term investors in the Blackpool & Fylde area and, with the planned growth of the town at junction 4 of the M55 this is an excellent addition to our existing portfolio.”
Northern Trust’s portfolio comprises around 200 industrial, trade and office parks, and more than 3,600 individual units. The portfolio is managed by the group’s surveying practice, Whittle Jones Chartered Surveyors.
