International investor buys city region property for £6.83m
A Liverpool city region distribution warehouse has changed hands in a deal worth £6.83m.
London-based property investment and development business Fabric has sold the 108,000 sq ft Kuehne and Nagel distribution facility in Runcorn to international private equity property investment firm Cabot.
Acting on behalf of Fabrix, joint agents B8 Real Estate and Fletcher Bond secured the sale of Edison Point which is located on Astmoor Industrial Estate. It is let to Kuehne and Nagel Drinks Logistics who have occupied the site since 2015.
John Burrows of B8 Real Estate, said: “The North West industrial and logistics investment market continues to go from strength to strength, driven by the continued rental growth within the region.
“Occupier demand in the North West has remained strong in 2020, with take up for ‘big box’ industrial warehouses having already exceeded the six-year average of 4.16m sq ft. Combined with restricted supply, we envisage further rental growth in the foreseeable future.”
Cabot was represented by the Manchester office of CBRE. Michael Williams of Cabot, added: “We are delighted to have concluded this transaction on behalf of our value fund programme. It’s a well-located asset with a strong occupational dynamic in the locality. We continue to seek both core and value add opportunities to build upon our existing portfolios in the UK.”