Liverpool FC Property Bought For £4.7m

A 94,700 sq ft property let to Liverpool FC near the intersection between the M57 and the M62 has been bought for £4.7m.

The distribution unit at Whiston Enterprise Business Park in Merseyside has been acquired from Ashtenne by the Mayfair Capital Property Unit Trust (MCPUT). The MCPUT is a fund managed by Schroder Real Estate Managers (Jersey) with Mayfair Capital Investment Management as the property adviser.

The price reflects a net initial yield of 6 per cent.

The property is let to Liverpool FC at a rent of £3.17 per sq ft until May 2025. The unit comprises 82,647 sq ft of warehouse space, 11,037 sq ft of offices and a 1,022 sq ft amenity block.

MCPUT announced the deal while revealing that it has completed £45.5m of transactions as part of a repositioning of its portfolio towards office and industrial assets. The fund has bought industrial investments in Liverpool, Redditch and Ashford, as well as office buildings in Oxford and Egham, for a total of £31.7m, and disposed of offices in Exeter and Bristol and retail units in Edinburgh and Glasgow for £13.7m.

Robert Palmer, chief investment officer at Mayfair Capital, said: “These transactions were a repositioning exercise. The five acquisitions provide the fund with further exposure to the strong South East office and Midlands and North West distribution markets, which all offer strong rental growth prospects and attractive yields.

“The four disposals are of three of the smaller assets, Exeter, Edinburgh and Glasgow, in the portfolio and an office building in Bristol, which was one of the first acquisitions for the fund and where our business plan has been completed.”

Graeme Rutter, head of Schroder Real Estate Capital Partners, said: “We are delighted with the recent transactions made by the team at Mayfair Capital. Business plans have been successfully concluded and sales proceeds and new equity have been deployed into our favoured market segments.”

Mayfair Capital was represented by B8 Real Estate.

For further information contact:
John Burrows
B8 Real Estate
01925 320520

Redsun Clinches Sefton Factory Deal

Redsun clinches Sefton factory deal 18 Jan 2016, 09:40 Redsun Developments has agreed a deal to develop a 170,000 sq ft manufacturing facility at Senate Business Park in Bootle for printer manufacturer Domino UK.

Redsun has exchanged contracts with Sefton Council to acquire the 10-acre site following a competitive bidding process undertaken in 2015. The site has remained undeveloped since it was reclaimed in 2006 by Sefton Council.

Domino will take occupation on a 25-year lease on completion of the development.

The scheme has been designed by Fletcher Rae architects with C4 Consulting acting as project manager and Muir Consulting providing engineering services. A detailed planning application has been submitted to Sefton Council and procurement of the main contractor will be undertaken in the coming weeks. Construction is expected to start in May of this year with the completed building ready for occupation by Domino early 2017.
Domino employs 62 people locally and the new development was needed to keep the company in the borough, according to council reports. The Domino Group operates in over 120 countries employing over 2,300 people worldwide with manufacturing facilities situated in UK, China, Germany, India, Sweden and USA. The Domino Group was acquired by Brother Industries Limited in 2015.

Craig Booton, managing director, Redsun Developments, said: “This is a fantastic start to 2016 for Redsun. This project is the result of a close collaboration with Sefton Council and Domino and we can’t wait to get started on-site to deliver a world class facility for a significant local employer. We completed a number of successful developments at the end of 2015 and we’re looking to push on with this and other projects in 2016.”

Redsun currently has commercial developments on-site in Birkenhead and Liverpool and have planning applications submitted for two further schemes in Bromborough and Ellesmere Port. Redsun’s previous projects have focused on the SME occupier sector and so this deal represents a move into the larger scale industrial market for the Liverpool-based developer.

The terms of the deal were not disclosed. B8 Real Estate advised Redsun and put together the deal.

For further information contact:
Jonathan Thorne
B8 Real Estate
01925 320520

Britonwood Trading Estate, Knowsley, Liverpool L33 7YN