Investor acquires two Liverpool city region industrial properties in deals worth a total of £2m. Tony McDonough reports
Manchester-based investor Tandem Investments has acquired two industrial sites in Liverpool city region in deals worth a total of £2m.
Both sales were facilitated by agents at B8RE and include a 10,324 sq ft detached unit in Runcorn leased to The Clearway Group on a 10-year lease, and a recently vacant 11,652 sq ft detached unit in Haydock.
B8RE completed the sale of the Runcorn asset acting on behalf of a private individual. It completed the acquisition of the Haydock property on behalf of Tandem Investments from a private individual.
Although located in Manchester, Tandem is owned by North Wales-based entrepreneur Richard Rees. The venture has a number of other investments at locations including Bootle, Chester, Warrington, Manchester, Burnley and Coventry.
Tandem director Chris Lloyd said: “Great to get these two acquisitions over the line. We have significant capital to deploy and the North West industrial market is one of our core markets, whether the assets are income producing or vacant.”
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Joe Sinclair, associate director at B8RE, added: “We are extremely satisfied to have completed both deals in quick succession.
“Both deals continue to highlight the strength of the private investor market, and we’re witnessing very strong demand in the market, with the main obstacle at the moment being the lack of investment supply. We have many active investor requirements for similar assets”.
Neil Higson of Wildbrook advised the Vendor on the Haydock deal.