Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GLOUCESTER-Crest Nicholson Properties has sold two buildings at its 62 acre Waterwells Business Park to Britannic Assurance for £9 million ($12.7 million). The deals represent the first institutional investment sales on the site.

The first of the two deals is the sale of the 70,000 sf speculatively-developed Perry Centre for £4.4 million ($6.2 million). Tenants in the Perry Centre include Cardinal Technology Group and Mawdsleys.

As the second part of the package, CNP has forward-sold a 71,000 sf high bay distribution warehouse including 22,000 sf of office space, which is currently under construction. The building has been prelet to Industrial Fasteners on a 20-year lease at a rent of £5.60 ($7.90) per sf. It was sold to Britannic Assurance for close to £4.6 million ($6.5 million).

CNP was represented by DTZ Debenham Tie Leung and Alder King, while Chesterton acted for Britannic.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.