The £21.m sale of an Eddie Stobart warehouse at Warrington looks set to kick off another year of massive international investment in logistics property.
Cushman and Wakefield has advised DTZ Investors on the sale of the 376,000 sq ft Stobart unit at Winwick quay to Griffin Logistics (GULF) for £21.4m, reflecting a net initial yield of 8.24%.
Situated on Hawleys Lane, adjacent to Winwick Quay Industrial Estate and in close proximity to Junction 9 of the M62, it is let to Eddie Stobart Limited until 2026. Eddie Stobart currently operates 13 contracts from the site including Tesco Direct, TATA Chemicals and Dobbies Garden Centre.
Craig Barton, Director at Cushman & Wakefield, said: “The price achieved demonstrates the strong investor appetite for a high quality industrial investment in a strategically important location, let to a strong covenant.”