Charity sells office building for £1.385 million

AN office unit near Warrington has been sold by a charity for £1.385 million.
Carrick Real Estate handled the sale at Cinnabar Court, Daresbury Park on behalf of its charitable trust client.
The investment sale achieved a value of £1.385m, reflecting a net initial yield of 7.23 per cent.
Unit Three Cinnabar Court, which is fully let to Greensill Capital UK for a further eight years, has been sold to a new private investor represented by Commercial Properties.
The unit provides Grade A open-plan office accommodation, totaling 6,072 sq ft over two floors. The asset also includes 30 car parking spaces.
Steve Carrick, partner at Manchester-based Carrick Real Estate, said: “We have worked strategically with our client to bring this asset to market at a time when the North West has a lack of investment stock.
“The tenant’s covenant strength, lease length and quality of the real estate meant the opportunity was well received. We are delighted to have concluded a swift investment transaction.”

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from Warrington Worldwide https://www.warrington-worldwide.co.uk/2018/08/31/charity-sells-office-building-for-1-385-million/
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