Richardson acquires Wigan industrial for £15m
The 294,000 sq ft Swan Lane Industrial Estate was sold by Melburg Capital.
Richardson has bought the multi-let Wigan complex, which sits on a 14-acre site, for £15m. The deal reflects a net initial yield of around 6.95%.
Melburg put Swan Lane Industrial Estate up for sale earlier this year with a guide price of £14.8m.
The estate, which has units ranging from 39,768 q ft to 85,622 sq ft, is fully let to five occupiers including Product Care Trading Limited, Kartell UK Ltd and Prowood Ltd.
The site could also be expanded to include an additional 30,000 sq ft of accommodation.
Lambert Smith Hampton acted for Richardson and Cushman & Wakefield, Colliers and Tudor Real Estate advised Melburg Capital.
In a similar deal earlier this year, Richardson acquired the 258,000 sq ft Plantation Park from Mileway.
