£2.9m sale price of Trafford Park industrial unit shows strength of the market

A 12,837 sq ft warehouse unit at Trafford Park has changed hands for £2.91m, compared with an asking price of £2.46m, which shows the current strength of the market.

Ryden and B8 Real Estate completed the sale, which reflected a net initial yield of 3.8%.

The modern detached warehouse is situated on a one-acre site on Fourth Avenue within ‘The Village’ area.

It is let to Evri, previously known as Hermes, on a six-year lease expiring in June 2028, at a rent of £117,677 per annum. The property was sold on behalf of a private client, while the buyer was a private property trust.

Joe Sinclair of B8 Real Estate said: “Having advised the client throughout the full cycle of their business plan, we are delighted with the strong pricing achieved.

“The property was initially acquired off-market by our investment team.

“The deal represents a very successful outcome for the client and highlights the continued demand for good quality assets in core locations – particularly Trafford Park.”

Ian Whittaker of Ryden said: “Despite some uncertain market conditions, it is reassuring and very pleasing to have achieved such a strong result for our client on this prime industrial investment in Trafford Park, showing demand for good quality bricks and mortar assets is still strong.”

The purchaser was represented by BHT.