A 65,000 sq ft industrial and warehouse complex near Warrington, Cheshire, has been sold for £3.56m.
Heaton Court, in Risley, was sold by Lothbury Property Trust, a client of KBC Asset Management, to Windsor Fairlawn.
The deal on the four-unit scheme, which is multi-let, reflects a net initial yield of 7.5%.
Stephen Hamer, investment director at Lambert Smith Hampton, which acted for KBC, said: “The sale of Heaton Court is further proof of the strength of the market for industrial and warehouse investments in strong, well established locations such as Warrington.
“We are continuing to see considerable investor demand for both well let properties and also those offering the opportunity to enhance value.”
Heaton Court is located within a mile of Junction 11 of the M62.
It is adjacent to Gawsworth Court, which was recently sold to Highcross by Lambert Smith Hampton on behalf of Morley Fund Management for £3.78m.
Colliers CRE represented the purchaser in the Heaton Court deal.
References: EGi News 26/01/06
