ESN, which recently launched a £60m UK investment program, has bought an industrial investment in Warrington, Cheshire, from AMP Asset Management for £9m, reflecting a net initial yield of 7%.
The 13,935 sq m (150,000 sq ft) distribution unit is next to junction 9 of the M62. AAH Pharmaceuticals occupies the shed on a 25-year lease from June 1991 at £655,000 pa (£46.82 per sq m – £4.35 per sq ft). The unit has an eaves height of 10m.
ESN recently bought two retail parks – London Road retail park in Newbury, Berkshire and Gapton Hall in Great Yarmouth.
Strutt & Parker acted for AMP and ESN Property Investments and Grimley represented the purchaser.
EGi News 13/10/97
