Chester Trade Park sells for seven-figure sum

Chester Trade Park, located within Sealand Industrial Estate on Bumpers Lane, has been sold to clients of IO Group for £2.45m.

The trade park, which was sold by the Manchester Capital Markets team of global real estate firm CBRE with a net initial yield of 6.90%, comprises eight units and 25,651 sq ft of space.

It is currently fully let, with existing tenants including flooring and interiors firm Living Floors Ltd, manufacturer GAP Plastics Ltd, plumbing and boiler company Plumbase, and tool retailer Screwfix Direct.

Rent from the tenants comes to more than £178k per annum.

CBRE believes that the trade counter sector has grown into a well-established sub sector of the industrial property market.

CBRE’s Manchester director, Robert Woods, said: “We are pleased to confirm the sale of one of Chester’s most prominent trade parks.

“Chester Trade Park is situated within an established location for trade counter occupiers and is already fully let to a mixture of high profile tenants, guaranteeing a sound annual revenue for the purchaser.”

CBRE acted on behalf of the vendor, while Warrington firm B8RE acted for the buyer.

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