Wigan office investment sold out of receivership

Acting on behalf of a private client, Commercial Properties has acquired Jubilee House, Wigan, for £1.4m from LPA receivers Bilfinger GVA, representing a net initial yield of 10%.

The 10,000 sq ft office on Waterside Drive is on a 0.7-acre site and has 51 parking spaces.

The property is fully let to Renew Holdings, which has seven years unexpired on its lease.

The office delivers a passing rent of £150,000.

Bilfinger GVA’s investment team acted on behalf of the vendor.

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