Adlington Court sold to London and Associated Property

An industrial park in Birchwood was sold for £2.3 million.

Adlington Court, which is located on Cavendish Avenue, was purchased by London and Associated Property PLC from Cordatus Property.

The deal includes four of the site’s 18 units, including their dedicated patios and parking areas, as well as all common areas of the property.

This quartet of installments is currently leased to Lowton Motor Company, AT Plant Services and Drivetrain Ltd.

Its acquisition also includes ownership of the Gorse Covert Day Centre, which is leased on a long-term basis to Warrington Borough Council.

LAP Chief Executive John Heller said: “This acquisition represents significant opportunities for LAP with strong rental demand and a track record of owner interest as demonstrated by the units already sold.

“Tenant demand for storage across the region is strong, exacerbated by the demands of the pandemic, as structural changes in the retail industry increase pressure on e-commerce, parcel delivery and 3PL warehousing and distribution companies that need face the growing challenge. to get goods to customers quickly.

“This, combined with a general lack of new development in recent years, has led to a shortage of on-hand inventory of any size in the Northwest.

“The continued weight of demand from tenants, coupled with a shortage of supply, has resulted in strong positive rental growth in Warrington and the Northwest, which we expect to continue.”

Wake Smith Solicitors acted on behalf of LAP in completing the deal.

Commercial Real Estate Team Leader Neil Salter, who handled the purchase, said: “We have a very well-established relationship with LAP and we are delighted that LAP has chosen us to serve on this important acquisition for them.

“It was great to work with John and his team to close the deal in a relatively short period of time and we look forward to working on managing this asset.”

Leave a Comment