Ravenscourt Industrial Estate Warrington sold for £3.51 Million7th February 2013

BNP Paribas Real Estate, on behalf of Ignis Asset Management, has sold the freehold investment of Ravenhurst Court Industrial Estate, Warrington, for £3.51m, showing a net initial yield of 8.57 per cent.

The 95,014 sq ft estate, which has an average unexpired term of around three years and 10 per cent vacancies, was sold to a private client of DTZ.

BNP Paribas Real Estate’s Graham Foxton said: “This industrial estate provides a solid investment opportunity with a good spread of risk, which is why we were able to complete the sale in a timely manner at a strong market price. The site itself comprises an industrial estate of 21 units of varying sizes throughout four terraces. It also provides ample parking and yard areas.”

Simon Lowe, associate director in DTZ’s Manchester investment team, said: “Our client had a researched requirement for multi-let industrial and this asset fitted the mould, offering income diversification in an excellent location as demonstrated by the occupancy level.”

The estate is situated in Warrington, approximately seven miles west of Manchester, 18 miles east of Liverpool and 60 miles north of Birmingham, close to the intersections of the M62 and M6. The strength of the location is underpinned by good transport connectivity and excellent motorway access which has made it a desirable location for many national and international businesses.