Quorum sells warehouse portfolio for £18m
Wilmslow property company Quorum Estates has sold its industrial portfolio to sector specialist investor Warehouse REIT for £18.25m, reflecting a net initial yield of 7%.
The portfolio comprises seven properties including a 78,178 sq ft warehouse in Road One industrial estate Winsford; a 60,081 sq ft production facility at Parkway zone 2 in Deeside; the 46,507 Quantum Park trade counter estate in Manchester and a 40,000 sq ft warehouse at Europa Trading Estate, Kearsley.
Also included are a 38,907 sq ft warehouse at Wardley Industrial Estate, Swinton; a 48,074 sq ft warehouse at Linkway Industrial Estate Middleton; and a 14,513 sq ft facility at Sharston’s Oakfield Centre.
Paul Wardle, managing director of Quorum, said: “Quorum has always been very active in the North West industrial sector and this portfolio was selectively built up over the last 20 years.
“We made the decision to take advantage of the current buoyant industrial investment market and the capital will provide us with the opportunity to actively expand our existing office portfolio as well as to acquire new industrial stock.”
In 2017, Quorum completed a 50,000 sq ft headquarters building for Stockport Homes and completed the acquisition, letting and funding of over 200,000 sq ft of industrial building and development land with Cabot Properties in Crewe.
Stewart Montrose acted for Quorum.