B8RE Sell Manor Portfolio

B8 Real Estate, acting on behalf of PIN Properties, has completed the sale of the Manor Portfolio. The portfolio comprises 137,500 sq ft of industrial accommodation across nine units in Manor Park, Runcorn and was sold to London and Associated Properties for £6,200,000.

Phil Meakin at PIN Properties commented: “Having completed our asset management strategy on the portfolio, including a planned refurbishment programme and the letting of vacant units, we felt that the time was right to sell the asset. As a business, our focus is now on our development pipeline and single let schemes and we are now on site at Rugby Business Park, Chadderton.”

John Burrows at B8 Real Estate commented, “B8RE have been involved with these assets since PIN’s acquisition and it has been great to see the business plan through to a successful conclusion on the back of securing a number of new lettings across the portfolio. The asset management work undertaken by PIN Properties has been reflected in the price achieved for the portfolio, which also re-affirms continued strong investor demand for well let assets within established industrial locations such as Runcorn.”

Pin Properties were advised by B8 Real Estate and Kuit Steinart Levy LLP

London and Associated Properties were advised by Rowley Hughes Thompson and Pinsent Masons

Trafford Park Operator Expands into New Facility

Acting for Peter Stevens Estates, B8 Real Estate have secured a 66,000 sq ft letting at No1 Trafford Park to Espirit Warehousing for a term of 10 years.

Previously occupied by SIG Insulation, No1. Trafford Park comprises 66,000 sq ft of warehouse and office accommodation over two buildings on a site of 2.87 acres prominently located fronting Westinghouse Road.

Following a full refurbishment, the deal was agreed at a rental of £5.95 per sq ft and sees Espirit Warehousing expanding their bulk storage operations within Trafford Park.

Paul Thorne of B8RE commented:

“The prominent location and nature of the site enabled us to secure a tenant whilst the refurbishment works were ongoing on what is a record rent for refurbished 2nd hand accommodation in Trafford Park.”

Peter Stevens Estates was advised by B8 Real Estate and JLL. Espirit Warehousing were unrepresented.