![B8RE Acquire Value Add Industrial Asset for Paloma Capital B8RE Acquire Value Add Industrial Asset for Paloma Capital](https://b8-2022-cdn.s3.eu-west-1.amazonaws.com/wp-content/uploads/2024/01/Front-cover-shot-800x465.jpg)
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.
Share this article
Recent News
- H1 2024 North West Industrial and Logistics Market Report
- B8RE Appointed on 625,000 sq ft Employment Scheme in Wigan
- B8RE backs Blackstone Bike Riders on 450km Charity Bike Ride
- B8RE Hits the Back of the Net with the Sale of Liverpool Football Club Logistics Asset
- Speculative development starts at former Halewood International site