Barwood Capital and db symmetry have sold a 107,000 sq ft business park near Manchester Airport to Squarestone Growth for £20.5m – a net initial yield of 8.57%.
Manchester Green is a refurbished business park comprising five buildings and 491 parking spaces across 7.5 acres.
Occupiers include WorleyParsons Europe, Ingredion UK, Chiesi and Assetz SME Capital.
Northampton-based property investment and development business Barwood Capital acquired Manchester Green through its 2012 property fund in 2013.
Since then it has invested £3.9m with its development partner db symmetry to carry out a phased refurbishment programme across the estate.
JLL and Whitaker Horton acted for Barwood Capital and db symmetry; BNP Paribas Real Estate advised Squarestone Growth.
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