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Duchy of Lancaster targets further acquisitions following £10.6 million Liverpool investment

The Duchy of Lancaster is targeting further commercial property investment following the £10.6 million acquisition of 175,000 sq ft of space at the Estuary Commerce Park in Speke, Liverpool.

The Duchy’s Estuary Park properties are held leasehold, with 1 Hercules Drive let to Communisis UK Limited for 20 years from May 2007 and 14 Estuary Banks let to the Secretary of State for Health for 25 years from October 2003.

The total income is £835,000 per annum.

At Estuary Park the Duchy of Lancaster was represented by B8 Real Estate while CBRE acted on behalf of the vendor.

Head of commercial property at the Duchy of Lancaster, Mike Andrews, said: “We have sought to acquire properties where we can secure an attractive return against good covenants from realistic rents,” he said.

“The warehouse distribution sector offers these characteristics with a very favourable outlook for tenant demand created by strong economic growth in the regions and from increasing demands of internet shopping coupled with the lack of supply of good modern buildings.

“The units at Estuary are two well-let, good quality buildings in a recognised location offering high standard working environment at an attractive price.”

“The Duchy’s long-term urban strategy continues to be to secure strong returns from good quality properties.

“We have the capacity for further acquisitions, whether they be similar to these distribution hubs or office spaces in core locations.”

This was posted in Bdaily's Members' News section by Sophia Taha .