Trafford Park shed sells for £8.7m

PerScent has sold the 45,000 sq ft Churchill Point to Harleyford Capital.

The £8.7m deal reflects a net initial yield of 4.5%.

The unit, located off Churchill Way, is let to Hyva on a 10-year lease that begin last year.

Davies Harrison represented PerScent and Knight Frank acted for Harleyford Capital.

Davies Harrison has been involved at the site for more than 20 years, acquiring the land for PIN Properties in 2004.

Rick Davies, director at Davies Harrison, said: “This is an exceptional deal and one that we are particularly proud of. Having been a key part of the team behind the construction of Churchill Point – from the original land acquisition and advising on the speculative development through to the sale to PerScent, securing subsequent lettings and now achieving this investment sale.

“The transaction reflects both the enduring quality of the scheme and the continued strength of Trafford Park as the UK’s premier industrial location. Few industrial deals in recent years have demonstrated such a complete lifecycle of strategic advice and asset management.”

Matt Stretton, partner at Knight Frank, added:” Located in arguably the strongest location in the North of England for urban logistics, the asset presents an opportunity to capture significant rental growth at the next rent review.”