UK multi-let industrial property company Sandyford Properties has acquired two industrial estates in the North West for an undisclosed price.
At Fenton Industrial Estate in Stoke-on-Trent (pictured), Sandyford has acquired 25 units, totalling 27,726 sq ft, on Reads Road. The average passing rent at the estate is £8.05/sq ft.
At Astmoor Industrial Estate in Runcorn, Cheshire, Sandyford has acquired 12 units, totalling 67,149 sq ft, on Arkwright Road. There are two vacant units at the industrial estate and the average passing rent is 4.83/sq ft. The estates were acquired in two separate transactions from a UK institutional investor.
Paul Brindley, managing director of Sandyford Properties, said: “These acquisitions are perfect acquisitions for us – multi-let, purpose-built estates with unit sizes of less than 15,000 sq ft and plenty of asset management opportunities. Fenton is in a strong location, where we have deep roots and local knowledge. Runcorn presents lots of asset management angles for us to add value and adds to our growing north west presence, following our recent acquisitions in Chester, Deeside and Congleton.”
Sandyford was advised by Roger Hannah on the Runcorn purchase and was unrepresented on the Fenton deal. The vendor was advised by B8 Real Estate at Runcorn and Mounsey Surveyors at Fenton.
