Peel Waters sells 45 acres in Runcorn

An open storage site on Percival Lane Estate has been sold to an overseas institutional investor for more than £10m.

B8RE acted on behalf of Peel Waters; the 45-acre Runcorn site previously sit within the landowner’s industrial and logistics portfolio.

Acre Capital Real Estate acted for the purchaser.

The deal is understood to be one of the largest open storage sales in the North West to date. It attracted significant interest and generated a receipt well in excess of the £9.9m price tag, according to B8RE.

The site is fully let and offers 21 secure compounds up to 9.2 acres as well as 50,000 sq ft of industrial buildings.

Open storage sites are in high demand at present due to rising demand from various operators including EV infrastructure providers.

John Burrows, investment director at B8RE, said: “With limited supply of quality sites, we’ve seen a sharp increase in rents across the North West, with prime sites reaching up to £130,000 per acre.

“This standout deal was due to its scale and the competitive nature of the sale, which drove pricing well above expectations – underlining the growing appeal of high-quality IOS sites in strategic locations.”