Adlington Court sold to London and associated property

An industrial park in Birchwood has been sold for £2.3 million.

Adlington Court, located on Cavendish Avenue, has been purchased by London and Associated Property PLC from Cordatus Property.

The deal includes four of the site’s 18 units, including their own gardens and parking, as well as all common areas on the estate.

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

The acquisition also includes full ownership of the Gorse Covert Day Centre, which is on a long-term lease to Warrington Borough Council.

LAP CEO John Heller said: “This acquisition presents significant opportunities for LAP with strong rental demand and a history of owner-occupancy interests as evidenced by the units already sold.

“Tenant demand for warehousing across the region is strong, exacerbated by the demands of the pandemic as the structural changes in the retail sector put greater pressure on e-commerce, parcel delivery and 3PL warehousing and distribution companies operating the face an increasing challenge. to get goods to customers quickly.

“This, combined with a general lack of new developments in recent years, has led to a shortage of available stock of all sizes in the Northwest.

“The continued weight of tenant demand along with supply shortages has led to strong positive rental growth in Warrington and the Northwest region, which we expect to continue.”

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

Head of the commercial real estate team Neil Salter, who handled the purchase, said: “We have a very established relationship with LAP and we were delighted that LAP chose us to execute this important acquisition for them.

“It has been 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.”

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