Appointed in March 2021 to market on a leasehold basis – Howley Trade Park that was an extensively refurbished, secondhand warehouse on Warrington’s Farrell Street/Howley Lane.
Initially the client wanted to lease the property as individual MLI units with a view to eventually selling the asset an investment but after testing the occupational market for approx.3 months we received an offer to purchase the property from an owner occupier.
Advised on a price that was in line with investment values should the client have chosen to lease the premises and then look to sell the investment. Upon our recommendations a subsequent sale price of £4.6M (£105 per sq. ft) was agreed with vacant possession.
The 45,000 sq ft property, consisting of four separate units, will be Diamond Trucks’ first location in England and is part of its plans to expand its business in mainland UK. Diamond Truck are a specialist Renault and MAN truck dealership.