Eddie Stobart Occupied Building Sold for £21.4 million
Cushman & Wakefield has advised DTZ Investors on the sale of a prime industrial investment in Warrington to Griffin Logistics (GULF) for £21.4m, reflecting a net initial yield of 8.24%.
Situated on Hawleys Lane, adjacent to Winwick Quay Industrial Estate and in close proximity to Junction 9 of the M62, the property extends to 376,228 sq ft and is fully let to Eddie Stobart Limited, providing an unexpired lease term of 10 years. Eddie Stobart currently operates 13 contracts from the site including Tesco Direct, TATA Chemicals and Dobbies Garden Centre.
Craig Barton, Director at Cushman & Wakefield, said: “The price achieved demonstrates the strong investor appetite for a high quality industrial investment in a strategically important location, let to a strong covenant.”