Acting on behalf of Royal London, CBRE’s Manchester Capital Markets team has sold The Point office building in Birchwood, Warrington to a private investor for £4.87m, representing a Net Initial Yield of 8.25%.
All 32,016 sq ft of Grade A office accommodation at The Point is let on a 10 year lease to leading billing and customer management company, Martin Dawes Systems Ltd. Located on Birchwood Boulevard, approximately 5 miles north east of Warrington town centre, The Point is within an established business location with neighbouring occupiers including Canon, Hewlett Packard and Fircroft.
Robert Woods, Director of Capital Markets at CBRE’s Manchester office, said; “Birchwood has established itself as a prime commercial location due to its proximity to both Manchester and Liverpool centres and its excellent transport links. The Point is the regional headquarter building for Martin Dawes Systems Ltd and as such presented a sound investment for the purchaser to acquire a strategically located property with good rental returns. The deal signifies investor appetite for well-placed stock in out of town locations in the North West.”
