JR Capital and Chancerygate’s multi-let urban logistics investment fund has acquired Brunswick Business Park’s North and South Harrington buildings in Liverpool for £9m from CEG.
The 54,000 sq ft North Harrington building is currently occupied by indoor go-karting company TeamSport and the circa 66,000 sq ft South Harrington building comprises a former dockside warehouse which has been reconfigured to create six self-contained warehouse units at ground floor, with the first floor offering office accommodation.
Michael Ferris, head of investment at JR Capital, said: “We are pleased to have completed this latest acquisition for the fund. Brunswick Park offers high yielding and well diversified income, anchored by some really quality tenants. The surplus land on the 10-acre site is suitable for development for a variety of uses providing us with an opportunity to roll our sleeves up and add value in the short term.”
Simon Cowley, head of investment and asset management at Chancerygate, added: “This strategic acquisition secures an excellent asset to add to our growing portfolio within the resilient North West market. The fully let nature of buildings signifies the strength of demand for this type of accommodation such a core urban logistics location being immediately proximate to the city centre.”
B8 acted on behalf of Chancerygate and JR Capital. Edwards & Co advised CEG.
