Client: Rockspring / Industrial Property Investment Fund (IPIF)
Type: Multi-let Industrial Estate
Size: 32 Units totalling c. 250,000 sq. ft. – Ranging from 3,000 sq. ft up to 30,000 sq. ft.
An established multi-let industrial estate located just off the M6 Motorway and A580 East Lancs road in St Helens. This asset was acquired by Rockspring UK in 2016 with numerous asset management angles.
Alongside our joint agents we continued our history of success on the estate and were able to secure lettings on 4 of the largest voids in the first 6 months of 2018.
The new focus has been to add value to estate by leasing refurbished accommodation and encouraging trade counter users on the front units to increase the rental tone. For example, Unit 15 was refurbished and subsequently let to Wolseley UK on a 15 year lease at £5.25 per sq. ft. per annum.
The success of lettings on the estate has now resulted in B8 Real Estate advising on the speculative development of a 60,000 sq. ft. new build of which we expect to go very well and effectively add long term value to this asset.