We are pleased to announce the completion of the sale of 7 Stuart Road, Manor Park, Runcorn. The unit extends to 9,679 sq ft and was let to Renniks (UK) Limited for a term of 10 years with effect from 14th December 2017 at a passing rent of £50,000 per annum.
The property was sold to a North Wales based Property Investment Company.
Director Stephen Wade commented:
We are continuing to see strong demand for good quality industrial stock in recognised industrial locations.
The Tenant has been operating from the premises in Runcorn for approximately 30 years and the trading business has recently been acquired by the management.
The property was sold at a figure close to the asking price of £650,000, reflecting a Net Initial Yield of 7.31%.
