Glenbrook sells Wirral industrial unit for £895,000
Property investor Glenbrook Investments let No 1 Dock Road in Wallasey to cleaning products firm Organica in June and has now disposed of the property
Glenbrook Investments has completed the sale of No 1 Dock Road in Wallasey to a regional private investor at the asking price of £895,000.
The deal completed two months after Organica signed up to the 22,505 sq ft unit on a six-and-a-half-year lease. Glenbrook acquired the property in June last year and, following a refurbishment, let the property to Organica, supplier of biodegradable and non-hazardous cleaning products.
Richard Rees, Investment Director at Glenbrook, said: “Having successfully let the 22,500 sq ft unit during lockdown, we have completed the disposal of the investment within a 14-month cycle.
“This was a challenging refurbishment project completed on time and on budget but into the maelstrom of COVID-19. The project therefore demonstrates the demand for well refurbished space that is available for prospective tenants to move into straight away and also the requirement for higher yielding industrial investments at a time when income is harder to find.”
The property is located on a 1.09-acre site in the Seacombe area of Wallasey on Dock Road (A5139), which connects Birkenhead town centre to Junction 1 of the M53 motorway. The Wirral Waters Development and the East Float Dock runs parallel to Dock Road. Glenbrook was represented by Legat Owen. The purchaser was unrepresented.