Commercial Property News

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Tuesday, April 17, 2023

Brixton buys Pisces Industrial Estate at Trafford Park

Brixton has bought the Pisces Industrial Estate at Village Way, Trafford Park, Manchester for 5.76m from ING UK Real Estate Income Trust Ltd.

The 65,600 sq ft estate, which was completed in 1998, comprises two units let to Boots The Chemist and CMP Batteries at a total rent roll of 328,704 pa. The purchase shows a net initial yield of 5.4%, and an equivalent and reversionary yield of 5.7%.

The estate directly abuts Brixton's Mosley Industrial Estate. The company's ownership in Trafford Park now extends to more than 2.4m sq ft of industrial and warehouse space on 140 acres.

King Sturge advised Brixton on the purchase whilst the vendor, ING UK Real Estate Income Trust Ltd, was represented by GVA Grimley.