St Modwen buys Ashburton Park
9 November 2022 10:49
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CBRE Investment Management sold the 95,000 sq ft multi-let complex at Trafford Park for around £13.5m.
St Modwen’s acquisition sees it take control of 25 units within five sheds off Wheel Forge Way.
Occupiers at Ashburton Park include Toolstation, Clothes2order, BTTG and Kooltech.
The deal reflects a net initial yield of around 4.5%.
CBRE IM’s decision to offload the complex comes a decade after the firm bought the site on behalf of a private client for £6.8m.
St Modwen was advised by CBRE and King Street Real Estate advised CBRE IM.
The deal is CBRE IM’s second Trafford Park sale in recent months. In August it sold four warehouse units off First Avenue to Network Space.
