Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-The North-West of England has enjoyed a run of major investment deals. Henderson Global Investors has bought Cirrus House, the first building on site at Kings Business Park situated off junction 2 of the M57 in Knowsley, Liverpool. The Hazels Development Company sold the 30,578-sf building for £3.421 million ($4.88 million), reflecting a net initial yield of 9.35%.

Vertex Data Science, the current tenant, has a ten-year lease, providing a rental income of £338,335 per annum, equating to £11.07 ($15.80) per sf. Jones Lang LaSalle acted on behalf of the purchaser and Dunlop Heywood Lorenz represented the vendor.

Henderson Global Investors has also recently acquired Circle South, a multi-let industrioal estate at Trafford Park, Manchester, for more than £7 million ($9.99 million). The purchase price reflects a net initial yield of 7.375%. This multi-let industrial site, developed by Green Properties, covers 112,427 sf and provides a rental income of £556,788 ($794,927) a year, with the average rent being £4.94 ($7.05) per sf.

Current tenants at Circle South include, Omnicron Electron, Brands Hatch Leisure Group, Lex Harvey and Ionics. Jones Lang LaSalle represented the purchaser and FPD Savills advised the vendor.

In a simultaneous deal, Jones Lang LaSalle advised LaSalle Investment Management on the £4.7 million ($6.71 million)purchase of the Stag Industrial Estate, Manchester, from RREEF. The deal shows a net initial yield of over 8%. FPD Savills advised the vendor.

The 80,567-sf estate is multi-let to tenants including Crown Paints, Newey & Eyre, Akzo Nobel and City Electrical Factors. It provides a rental income of £507,407 ($724,425) per annum, the average rent being £5.06 ($7.22) per sf.

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.