Guardian Properties continued to reshape its industrial portfolio with the £6.5m freehold sale of a single-let building at Chesford Grange in Warrington, Cheshire.
Pension specialist NPI bought the 13,000 sq m (140,000 sq ft) headquarter building at a 7.75% net initial yield. The unit is let to Scotia Haven Foods on a 23 year lease at £39.72 per sq m (£3.69 per sq ft).
Guardian is looking to add value to its assets by reinvesting in multi-let industrial estates rather than single let, according to Guardian advisor Grimley’s Mark Rawstron.
NPI was advised by Strutt & Parker and Lambert Smith Hampton.
EGi News31/01/97
