Niche North West industrial agent B8RE Ltd acting on behalf of A S Kendall and S R Thomas of Moorfields Advisory Limited as Joint Administrators of Industrial North West LLP, have disposed of a prime distribution unit of 377,000 sq ft fronting onto the M6 motorway in Haydock Industrial Estate.
The property which was completed this year is let to Movianto, a global Healthcare Logistics Services company on a new 15 year lease with an option to determine at year 10.
The investment has been purchased by Warrington Borough Council at a price of £45,300,000 reflecting a net initial yield of 4.82%.
Simon Wood of B8RE who acted on behalf of the Administrator Moorfields on the sale said, “this sale reflects the continued institutional demand for well let prime logistics properties located in the North West of England. Haydock Industrial Estate is a recognised industrial location not only for SME type businesses, but also larger logistic companies as proven by the amount of large companies basing their logistics operations here, including Amazon, Sainsburys, Bookers amongst others.”
Matt Stretton of knight Frank, who acted on behalf of the purchaser said, “we see this as an absolute prime industrial location which will continue to see more industrial activity and rental growth”.
B8RE acted on behalf of the vendor, A S Kendal and S R Thomas of Moorfields Advisory Limited as Joint Administrators of Industrial North West LLP.
C4 Projects acted as Project Managers and Employers Agents through the construction phase and subsequent disposal.
Knight Frank acted on behalf of Warrington Borough Council.