B8 Real Estate, acting on behalf of Aviva Investors, have sold a prime 64,924 sq ft multi-let industrial estate situated in a prominent location adjacent to the Parkway Circle roundabout in Trafford Park. The property was purchased by The Schroders MLIPUT for £4,968,000, reflecting a net initial yield of 6.24%.
Parkway 4 Trading Estate comprises a fully let estate of 3 detached units with an AWULT of 8.5 years to expiry (4.4 years to break). John Burrows of B8 Real Estate commented, ”We are pleased with the extremely strong level of interest generated, resulting in a host of bids being received for the property. The strength of the offers submitted highlights continued investor demand for prime assets against a supply shortage of good quality industrial properties.”
Schroders MLIPUT were represented by Cushman & Wakefield.