Tandem continues shopping spree with double shed buy
Assets in Penrith and Bamber Bridge totalling 45,200 sq ft have been acquired for a combined £2.45m.
Tandem Investments has continued the acquisitive streak that begin last year into 2025, adding a pair of industrial properties into its portfolio.
In Penrith, Tandem has acquired the 27,500 sq ft Gilwilly Industrial Estate from CBRE IM. The scheme, occupied by the builders’ merchant for 20 years, sits on a 1.8-acre site.
The second acquisition saw Tandem wrap up a sale and leaseback deal for the 17,700 sq ft Garrick Surface Coatings unit at Walton Summit in Bamber Bridge. The unit is let to the occupier for 10 years.
Chris Lloyd, director at Tandem Investments, said: “Each of the units are in prime locations in their respective sub-markets and being a stone’s throw from the M6 making them appeal to both investors and occupiers.
“Whilst both units are well let, there is still an opportunity for us to improve the assets and add some value.”
Tandem Investments was advised by Wildbrook CRE and Aaron & Partners. CBRE IM was represented by Acuitus, while Garrick Surface Coatings was advised by and Robert Pinkus & Co.
Neil Higson, director at Wildbrook CRE, added: “Performance here was key, given that one asset was off-market and the other was agreed pre-auction date.
“Both assets are reversionary and fit the client’s requirement criteria with an attractive day one yield.”
Last year, Tandem acquired similar value-add opportunities in Trafford Park, St Helens, and Irlam.
Lloydy does it again! Is there no end to this mans ability to do deals. When he stops doing deals, the world will stop rotating.
By Mr Tewson