December 2018

Legat Owen Sells Ellesmere Port Scheme

We have completed the sale of two modern industrial units in Ellesmere Port, Cheshire to Oyster Ventures, advised by Leeds-based Carter Towler.

Located on the well-established Rossmore Industrial Estate, one mile west of the M53 Motorway, the steel portal frame manufacturing and warehouse units have been purchased off a guide price of £1m and a net initial yield (N.I.Y) of 7.55%. Unit A, measuring 11,953 sq ft is occupied by Odlings MCR and unit B comprising 12, 231 sq ft is let to Database Direct. Both units produce a combined annual rental income of £81,850 per year.

The wider Estate is home to a wide range of occupiers including Toolstation, Screwfix, Howdens Joinery, Speedy Hire, City Plumbing, Benchmarx Royal Mail and Arco.

Commenting on the purchase Carter Towler director David Towler said:

This is an excellent investment for my client as the units are well placed on the Wirral Peninsula and are close to the M53/M56 motorway network. They are occupied on excellent lease terms by really good tenants whose businesses are thriving.

There was a great deal of interest so we had to act very quickly and decisively to secure this deal. Top quality freehold industrial premises like these are in high demand not just in this locality but across the whole of the North. They will be a valuable additional asset for Oyster Ventures who has an extensive commercial property portfolio.

David Towler, Carter Towler

We acted on behalf of the private vendor.  Director Stephen Wade continued:

Industrial lots of this nature inevitably attract strong demand, but Oyster Ventures proved to be a reliable purchaser who moved quickly to acquire the asset.

Stephen Wade, Legat Owen