The North West Operational Fire & Rescue Headquarters at Lingley Mere Business Park in Warrington has been purchased by private clients of Deutsche Bank for £19.50m.
The purchase price represents a Net Yield of around 7.3%.
The 25,000 sq ft facility was built in 2009 and is the home of the Fire Authorities of Greater Manchester, Cheshire, Lancashire and Cumbria to jointly handle 999 emergency calls and mobilise fire fighters.
Fire Control North West have a lease running to June 2033.
Craig Barton, who along with Jason Winfield at Cushman & Wakefield, represented the vendor (AAIM), commented: “We are delighted to conclude this disposal on behalf of our client. The process was highly competitive, as there is strong appetite for quality buildings with long-term income, to good tenants. It is also another a reflection of the strength of Warrington, both as a destination which occupiers desire, and which investors want to secure real estate within.”
