Acting on behalf of WPD Property Investments Ltd, we have completed the sale of Howard Court, a 25,000 sq ft freehold investment opportunity at Manor Park Runcorn, Merseyside.
The multi-let development comprises three buildings offering 7,500 sq ft, 10,000 sq ft and 7,500 sq ft high quality office accommodation. Emovis Operations Mersey is the scheme’s major tenant with other occupiers including X Digital Media and NDR Management Services.
Will Sadler, who acted on behalf of a private client, commented:
Howard Court offered a significant chunk of secure income across two thirds of the scheme, with the remainder providing a range of asset management opportunities such as refurbishment, new lettings and regears. The development was offered at a competitive price of £2.6million reflecting NIY of 8.52% and £106 per sq ft and we were pleased to secure a sale within three months of offering to the market.
The purchaser was a private buyer represented by Mark Clarkson of Eckersley.
