Cushman & Wakefield has completed the sale of The Cube in Runcorn, Merseyside to Oceanic Estates.
The 152,871 sq ft building near junction 11 of the M56 Motorway is one of the largest facilities to be sold this year in the North West and the investment by Oceanic Estates is further evidence of sustained confidence in the region’s industrial sector.
Cushman & Wakefield’s Logistics & Industrial agency team was instructed to sell the building on behalf of Parker Hannafin, following the decision by the pneumatics and filtration manufacturer to close the facility and move its manufacturing overseas earlier this year.
The purpose-built high bay distribution facility was constructed in the late 90’s and is arranged across two interconnecting separate bays, the highest of which incorporates 28 metre eaves, on a site providing 360-degree circulation and 50 metre deep yards.
Sam Royle of Cushman & Wakefield who represented Parker Hannafin in the sale said: “This is a unique, high specification distribution building in a strategic logistics location, close to the M56/M6 junction. The 28m high unit occupies a commanding position in Preston Brook, within a self-contained site of 9.6 acres. Having sold the building on behalf of Parker, we are delighted to have been retained by the purchaser to lease the building. The Cube provides much needed warehousing stock and given the current supply imbalance of premium warehousing across the region, we expect keen occupier interest.”