Bilfinger GVA’s Investment Team in Manchester has completed on the sale of two multi-let industrial estates at a value of £13.5 million on behalf of Hamilton Heath Estates Limited.
Warth Industrial Park in Bury and the Old Mill Industrial Estate in Preston have been acquired by St Modwen plc.
The industrial estates, which combined provide 360,000 sq ft of office and warehouse space, will provide St Modwen with core income and potential for future development opportunities in the short to medium term.
At the time of sale both industrial estates were 95% occupied.
Gurminder Manak, of Bilfinger GVA Manchester’s Investment Team, said: “Hamilton Heath Estates has taken advantage of current market conditions to dispose of their interest in Old Mill Industrial Estate in Preston and Warth Industrial Park in Bury. The sale enables them to realign their existing portfolio.
“Hamilton Heath Estates continue to search for other industrial opportunities where they can add additional value.”