A distribution warehouse in Knowsley, let to an ecommerce company, has changed hands in a deal worth almost £30m. Tony McDonough reports
Developer Flintlock has sold a 217,765 sq ft warehouse in Knowsley for £29.59m.
Acting on behalf of Flintlock, agents at B8 Real Estate secured a deal with Gerald Eve, agents for purchaser RTP Global RE Investment, for Venus 217 which is located on Moorgate Road close to junction 4 of the M57
Built in two years ago, the property was recently let by B8 Real Estate to a multinational e-commerce company on a 10-year lease at a rent of £5.95 per sq ft. It is the sister project to Venus 110 which was built in 2015.
Jon Thorne, agency director at B8 Real Estate, said: “The letting represented a significant deal for the Merseyside area which further cements Knowsley as one of the region’s most desirable locations for industrial and logistics occupiers given its connectivity to the Port of Liverpool and road network.
“We expect the success of this scheme to fuel further large-scale speculative development in the Merseyside area in the coming months.”
Simon Wood, investment Director at B8, added the property had attracted huge interest from UK and global investors since it was put on the market in May this year. He said: “The sale highlights the continued demand for grade A distribution space in the North West and the importance of Knowsley as a major industrial location.”
In a statement RTP also said: “This acquisition was pursued predominantly due to the excellent specification of the base build, connectivity and the strong ESG credentials of this building.
“The asset benefited from significant population within a 30-minute drive time radius, the agreed rent offered excellent prospects for growth and this asset complemented our existing ‘last mile’ distribution holdings.”