St. Modwen, the UK’s leading regeneration specialist, has added to its income-producing portfolio in the North West with the acquisition of Warth Industrial Estate in Bury, Greater Manchester in a deal worth £9.5 million.
Warth Industrial Estate, which features 257,035 sq ft of accommodation on a 14.3 acre site, is conveniently located between Bury, Radcliffe the M66 and M60, is home to 108 occupiers in a range of accommodation including industrial and office units, a business centre and storage compounds.
Steven Knowles, Regional Director at St. Modwen, said: “The acquisition of Warth Industrial Estate will complement our North West portfolio and fits with our strategy of acquiring income producing assets to which we can add further value. It is a popular estate in a busy location with low voids and has a range of accommodation to suit the local market. There are a number of long established and good quality tenants on the estate and we look forward to working with them. Our portfolio currently comprises 4 million sq ft, over 750 occupiers and generates an annual income in excess of £14 million.”
LSH and Pinsent Masons represented St Modwen.