Private intuitional investors (advised by B8 Real Estate) have completed the sale of the AAH Pharmaceuticals Limited distribution unit in Warrington to clients of Aberdeen Asset Management.
The property is in a prime location fronting junction 9 of the M62 in Warrington and is let to AAH for a further 15 years unexpired. The vendor bought the property in January 2013 and have since undertaken a re-gear with AAH Pharmaceuticals.
The sale price was in the order of £14,000,000
Simon Wood of B8 Real Estate who acted jointly along with Kimmre on the sale said ‘We are delighted with the outcome. My client purchased the investment in 2013 with a clear business plan to re-gear the property lease as we believed this property to be so important to AAH. AAH have invested millions of pounds into this facility which serves as both the national hub for the company’s home deliveries and also the Northern distribution hub for their wholesale networking service which handles circa 90,000 orders per day with approximately 400 people working within the warehouse”. This deal is evidence that Warrington continues to be recognised as a prime industrial location not only by investors but by occupiers.
Aberdeen Asset Management were advised by the Manchester Office of JLL.