A 132,000 sq ft distribution warehouse in Runcorn has been acquired for £11.45m.
Mayfair Capital Investment Management's Property Income Trust for Charities (PITCH) fund has bought the property which is located on Manor Park, a 300-acre office and distribution park close to the M56 motorway, from Pin Properties.
The deal reflects a net initial yield to PITCH of 6 per cent.
The warehouse, which includes a 2.1 acre concreted yard, is let to Rehau, a polymer-processing company supplying products to the construction, automotive, and industry sectors, until October 2028 at a rent of £4.89 per sq ft.
The unit is located prominently at the entrance to Manor Park, fronting Blackheath Lane, close to its junction with the Daresbury Expressway. Occupiers in the immediate location include Eddie Stobart, DHL/NHS, Lidl, UK Mail, Kuehne & Nagel, Howdens Joinery, Fresenius, Matthew Clark and B&M Bargains.
Road communications within the region will be bolstered by the completion of the Mersey Gateway project, which is designed to provide a fast link between the M56 and M62 motorways.
PITCH was advised by JLL and Pin Properties was advised by B8.
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