Commercial Property News

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Tuesday, May 30, 2023

Brixton buys Circle South Industrial Estate in Manchester for 9.75m

Brixton plc has bought the Circle South Industrial Estate at Wharfside Way, Trafford Park, Manchester for 9.75m from Liverpool Victoria Life Company.

The 112,500 sq ft estate which was completed in 1998 comprises six units ranging from 8,500 sq ft to 48,000 sq ft let to tenants including Daytona Manchester, West Pennine Trucks and Nestle Watercoolers at a total rent roll of 588,680pa. The purchase shows a net initial yield of 5.7%, an equivalent yield of 5.9% and a reversionary yield of 6.0%.

The estate is at the heart of Brixton's existing holdings at Trafford Park, near Old Trafford, where the company now owns more than 2.8m sq ft of industrial and warehouse space.

Tim Wheeler, Brixton's Chief Executive, commented: "Following our recent disposals, our one core holding outside the South East is Manchester. This property is a natural addition to our Trafford Park ownerships and we are pleased to have been successful in its acquisition".