Edwards Acquires Industrial Investment Opportunity in Lancashire

Written 3 months ago on 18th Apr 2024 by Oliver Rowe

Independent Manchester based property consultancy, Edwards, has acquired a 23,012 sq. ft single let industrial building in Skelmersdale on behalf of a private client. The building, which is situated on Pimbo Industrial Estate, is fully let to RMD Kwikform Limited and was being marketed by B8RE for £2.8 million, reflecting a net initial yield of circa 5.75%.

Oliver Rowe, director of Edwards, says: "This was a unique opportunity to purchase a highly reversionary asset with low site coverage in one of Lancashire's premier commercial locations. The area continues to improve and will benefit from further inward investment, with Henry Boot due to develop a speculative 245,000 sq. ft logistics warehouse next door."

"The significant competition to secure this asset is a strong example of the resilience of the industrial investment market; a sector we continue to be very active in."

The asset was acquired from Network Space. Tom Dawson, managing director at Network Space Investments, commented: "With a lack of stock in the market and continued demand for value add opportunities, we've timed the disposal with a well run marketing campaign to generate strong interest and competitive bidding for this opportunity. We're very pleased with the pricing that's been achieved which is ahead of our business plan and we will be looking to reinvest the proceeds into new industrial value-add opportunities in the coming months."

B8RE acted for Network Space.

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