A huge warehouse in the Liverpool City Region has been sold to Cabot Properties in a deal worth almost £7m.
Fabrix has completed the sale of the 108,000sq ft Edison Point Distribution warehouse in Runcorn, a site that's been occupied by Kuehne & Nagel Drinks Logistics Ltd since 2015.
Joint agents B8 Real Estate and Fletcher Bond acted on behalf of Fabrix for the sale of the unit on Astmoor Industrial Estate, and said the move had "crystalised" Fabrix's business plan.
The sale was worth £6.83m, and Michael Williams of Cabot Properties said: "We are delighted to have concluded this transaction on behalf of our value fund programme.
"It’s a well-located asset with a strong occupational dynamic in the locality. We continue to seek both core and value add opportunities to build upon our existing portfolios in the UK."
John Burrows of B8 Real Estate said: "The North West industrial and logistics investment market continues to go from strength to strength, driven by the continued rental growth within the region.
"Occupier demand in the North West has remained strong in 2020, with take up for ‘Big Box’ industrial warehouses having already exceeded the six-year average of 4.16m sq ft.
"Combined with restricted supply, we envisage further rental growth in the foreseeable future."
Cabot Properties was represented by the Manchester office of CBRE.
