In a significant move, an industrial property group has expanded its portfolio with the acquisition of two strategic assets worth £4.7m in a sale-and-leaseback arrangement.
The Cheshire industrial estate at 51-53 Brindley Road, Astmoor Industrial Estate in Runcorn, is one of the two properties acquired. This estate was previously owned by a Manchester-based plastics firm and is currently occupied by its subsidiary, a thermoforming and container printing company. The property is under a 15-year lease.
The second acquisition is located at units 6-7 at Festival Trade Park, two miles north of Stoke-on-Trent. This site was acquired from a manufacturer and supplier of live gambling products, which has now been leased back to the previous owner for 10 years. The addition of this property increases the firm’s holdings at a site that already includes notable tenants such as Rexel Senate, Bet365, and Xtrutech.
Paul Brindley, the managing director of the industrial property group, stated, “These transactions reflect our strategy to acquire robust, purpose-built industrial assets to grow our multi-let industrial portfolio. Both Festival Trade Park and Astmoor Industrial Estate are sites where we already have an established presence, and these acquisitions improve our holdings in these key markets.”
This acquisition follows the group’s previous purchase of 12 units at Astmoor Industrial Estate, totalling 67,149 sq ft, in December 2023. The advisory and legal services for this deal were provided by The Acquisition Group, PK3 Agency, Hill Dickinson, and Davitt Jones Bould.
With these acquisitions, the industrial property group strengthens its strategic presence in key markets, demonstrating a clear commitment to expanding its robust portfolio.