Member Article

Warrington business park sold as part of portfolio deal

An industrial estate in Warrington, Cheshire, has been sold as part of £9.4m deal.

The site, on Clayton Road, Birchwood forms part of an portfolio bought from AXA REIM by MStar, a joint venture between Starwood Capital Group and M7 Real Estate.

Totaling 366,152 sq ft (34,016 sq m) two of the other industrial estates are located in West Bromwich and the fourth in Sheffield.

The properties are let to a variety of tenants including The BSS Group Ltd, Wolseley Centres and Bayliss Automotive Ltd.

Ned Jones, director of investment at Savills Birmingham, said: “This portfolio boasts strong fundamentals and offers our client potential for good long term income generation.

“We continue to see investor appetite growing for industrial property in the regions, with the ability to gain higher returns than for the equivalent product in the south east.”

Savills advised MStar; AXA REIM was unrepresented.

This was posted in Bdaily's Members' News section by Simon Malia .