B8RE Acquire Value Add Industrial Asset for Paloma Capital

B8RE acting on behalf of Paloma Capital have purchased a significant multi-let industrial asset, totaling 62,671 sq ft across a low density 3.82 acre site.

The property is situated on Pickerings Road, Widnes and is currently fully let to two separate tenants, at a low base rent of £3.78 psf on the built accommodation, offering excellent scope for reversion.

John Burrows, Investment Director at B8 Real Estate commented, ‘we are delighted to have advised on the acquisition of this asset, which offers excellent fundamentals, including 8m – 12m eaves, c.60m deep yards to two elevations and a site cover of just 35%.

The low density nature of this asset, coupled with a passing rent of just £3.78 psf presents a variety of excellent asset management opportunities for our client.  Not only is there inherent ‘Day 1’ reversion, but the asset also offers the opportunity for comprehensive refurbishment and re-positioning, which will further drive value going forward.’

B8RE acted on behalf of Paloma Capital.

The Private Vendor was advised by Jamie Moffatt of Mason Owen.