Sandyford Properties, the UK multi-let industrial property company, has acquired two industrial estates in the north west.
The estates were acquired in two separate transactions from a UK institutional investor. They double the number of acquisitions carried out by Sandyford in 2023, which have added 170,000 sq ft to its portfolio.
At Fenton Industrial Estate, located in Sandyford’s heartland of Stoke-on-Trent, Sandyford has acquired 25 modern units, totalling 27,726 sq ft, on Reads Road. There are 21 tenants, including Premier Fuels & Lubricants and Stoke-on-Trent City Council and two vacant units. The average passing is £8.05/sq ft.
At Astmoor Industrial Estate in Runcorn, Cheshire, Sandyford has acquired 12 units, totalling 67,149 sq ft, on Arkwright Road. There are two vacant units. The average passing rent is 4.83/sq ft).
Sandyford was advised by Roger Hannah at Runcorn and unrepresented at Fenton. The vendor was advised by B8 Real Estate at Runcorn and Mounsey Surveyors at Fenton.
Paul Brindley, managing director of Sandyford Properties, said: “These acquisitions are perfect acquisitions for us – multi-let, purpose-built estates with unit sizes of less than 15,000 sq ft and plenty of asset-management opportunities.
“Fenton is in a strong location, where we have deep roots and local knowledge. Runcorn presents lots of asset management angles for us to add value and adds to our growing north west presence, following our recent acquisitions in Chester, Deeside and Congleton”.