St Modwen picks up Knowsley industrial site
St Modwen has acquired Moorgate Point Industrial Estate in Knowsley from a private investor for £10m.
Moorgate Point totals 445,000 sq ft of industrial and office accommodation with 6.5 acres of development land off the East Lancs Road and M57.
Steven Knowles, regional director of St Modwen, said: "Our investment in Moorgate Point Industrial Park will enable us to continue to add value through our income producing assets in the region and support future employment opportunities in Merseyside. The site is a well located and high yielding asset, making it a good fit with our existing North West portfolio. Knowsley is an area that we know well and is ideally located, with strong transport links to the rest of the region, making it the perfect fit for businesses requiring good accessibility.
"With a rent roll in excess of £9m last year, we have had an excellent start to the year in the North West, with more than 30 new lettings already concluded and planning consent secured for schemes including Skelmersdale and Farnworth town centres. Alongside our much-needed major regeneration project at Great Homer Street and the speculative units we are building at Gillmoss, this latest acquisition demonstrates our commitment to the Merseyside area and we are actively seeking to acquire further opportunities across the region."
Joiner Cummings acted for St Modwen in the deal; Stewart Montrose and B8RE acted for the vendor.