Jensen Court Industrial Estate at Runcorn, Cheshire, has been sold by real estate advisors Colliers International on behalf of Urban Waterside Ltd.
The 43,568 sq ft (4,047 sq m) of industrial accommodation on a 4.997 acre (2.022 hectare) site was acquired by Chester-based commercial property investment and development company Tilstone Estates for £1.625m, reflecting a net initial yield of 9 per cent.
Julien Kenny-Levick, director, industrial and logistics at the North West office of Colliers International in Manchester, secured the sale on behalf of Urban Waterside Ltd, the privately-owned Cheshire-based property developer and manager.
Jensen Court has 14 fully occupied industrial units and has been comprehensively refurbished by Urban Waterside. Its tenants include Hire Station, A A Glover, The Stearne Group, Pyrotherm Ltd, IAC plc and NBC Group.
The estate is adjacent to the A533 Bridgewater Expressway and close to junction 12 of the M56, offering easy access to the M62, M6 and regional motorway network. It will also be on the new Mersey Gateway route that is due to open in spring 2017.
Julien Kenny-Levick said: “This sale to Tilstone Estates demonstrates that there is an increasing appetite from investors to acquire well let, multi-unit investments where rental growth is anticipated.