A prime 1990’s distribution unit located adjacent to J9 of the M62 motorway in Warrington. The property was acquired from private investors in February 2013 for Threadneedle Property Investments for £7.15m (10.11%). The property is let to AAH Pharmaceuticals Limited (5A1 covenant) expiring June 2016 at a rent of £765,000 per annum (£5.07 per sq ft).
The property purchase was executed under very strict timescales in a challenging market and demonstrates B8 Real Estate’s ability to provide detailed market knowledge back up in order to support a purchase like this.
B8 Real Estate have been retained on the ongoing asset management and are currently in discussions with regard to a re-gear.
Client: Threadneedle Investments
Type: Industrial Investment Acquisition
Tenancy: Let to AAH Pharmaceuticals Ltd with 2.4 years unexpired