Units A-D Orion Business Park, Bird Hall Lane, Cheadle, ManchesterPosted on December 17, 2020
In December 2020 Clay Street completed the sale of this Prime North West Mid Box industrial/warehouse estate on behalf of Royal London Asset Management (RLAM).
- One of South Manchester’s principle industrial/warehouse locations.
- Excellent connectivity with Junctions 1 and 2 of the M60 Manchester orbital motorway both being within 1.5 miles, providing direct access to the wider motorway network.
- Four modern, well specified, detached industrial/warehouse units providing a total Gross Internal Area of 141,802 sq ft (13,174.01 sq m).
- Average unexpired lease term of 3.8 years to breaks and 4.7 years to expiries.
- Let to APS Limited and Landis + Gyr Limited who have both been on the Park for over 13 years.
- Total passing rent of £905,603 per annum, reflecting a low average rent of £6.39 psf.
The asset was sold to Mayfair Capital’s Property Income Fund for Charities (PITCH) for £15,570,000 representing a net initial yield of 5.45%. The purchaser was represented by JLL.