Altrincham industrial estate changes hands for £7.5m-plus
An industrial estate in Altrincham, Greater Manchester has been sold for more than £7.5m.
The buyer of the 80,246sq ft, 24 unit-scheme Stag Industrial Estate on Atlantic Street is Schroders’ Multi-Let Industrial Property Unit Trust.
It was sold on behalf of LaSalle IM by JLL and the price reflects a net yield of 5.89%. Cushman & Wakefield acted for MLIPUT.
The estate is currently home to 19 tenants, including Plumbase, Edmundson Electrical, Crown Paints and Brandon Hire.
Located opposite a new ASDA Superstore and close to Altrincham Retail Park, the area is popular with trade counter occupiers and is highly reversionary.
Graeme Rutter, head of Schroder Real Estate Capital Partners said: “This is another important acquisition, as it fulfils three important objectives for MLIPUT in providing regional diversification, spread of tenant risk and a great opportunity to re-position and add value.”
Simon Marshall of Cushman & Wakefield said: “The South Manchester industrial market continues to attract good occupier demand, and with a dearth of new supply, quality estates like Stag are set to reap the rewards of strong rental growth.
“Stag Industrial Estate not only offers a secure income stream to a quality tenants, but the potential to capitalise on an increasingly trade focussed location.”
