Tandem sells offices in Chester, buys in Warrington

Halladale House in Chester is out of the door for £3.35m and Concentric Business Park in Warrington has been acquired for £2.8m.

The deals form part of Tandem Investments’ refurb and recycle strategy.

The 18,500 sq ft Halladale House was acquired in 2023 with 30% of the building vacant. This space has now been let and the asset sold to Cur8 Capital.

In Warrington, Tandem has bought Concentric Business Park in Birchwood from CEG.

The scheme comprises three buildings totaling 27,683 sq ft let to Tilia Homes, Mileway, and ABS Consulting.

Tandem plans to speculatively refurbish the vacant suites and appoint a letting team to fill them.

Mason & Partners and Aaron & Partners acted for Tandem on the Halladale House sale. Edwards Property Consltants represented Cur8 Capital.

Christopher Dee and CMS acted for Tandem on the Concentric Business Park acquisition and Edwards represented CEG.

Chris Lloyd, investment director at Tandem Investments, said: “Super pleased to complete both deals. We have seen the office market showing real and tangible growth over the last 12 months at our Halladale House, Trinity, Birchwood and Stok schemes, which has given us confidence to reinvest in the sector.”

Rob Millington, director at Mason & Partners, said: “There were two stand out characteristics that contributed to the successful execution of the investment strategy – Tandem’s belief in the longevity of the office sector and good stock selection, with a focus on prime assets.”

Tandem have reinvested the proceeds by acquiring Concentric Business Park, Birchwood from CEG for £2.8m. The majority of the buildings are divided into suites and are let to companies such as Tilia Homes, Mileway and ABS Consulting. Tandem plan to speculatively refurbish the vacant suites and appoint a letting team.

Adam Wildig, partner at Christopher Dee, said: “A key driver for investment is the quality of the real estate and the location.

“Concentric delivers on both these fronts. Warrington proves time and again its appeal to occupiers and we look forward to supporting Tandem in delivering their business plan.”