Eric Wright Group expands property portfolio with industrial acquisition

Lancashire-based Eric Wright Group (EWG) has completed the £2.535m acquisition of a 37,311 sq ft industrial unit at Wardley Industrial Estate in Worsley, Salford from Guernsey-based Jolivet Investments Ltd.

29 Shield Drive is the latest purchase within the Group’s property portfolio and is let until 2023 to Proline Engineering on a 10-year lease with a rental income of £130,000 per annum.

The property is located on Wardley Industrial Estate, a prime industrial location adjacent to junction 14 of the M60 and five miles north west of Manchester city centre. Other significant occupiers across the estate include Amazon, Royal Mail, Howden Joinery, Wincanton, BOC, Ready Steady Store, Stax Trade Centre and Clipper Logistics amongst others.

Commenting on the latest acquisition Patrick Naylor, Group Portfolio Manager for Eric Wright said: “Located at the heart of the region’s motorway network, Wardley Industrial Estate represents a sound investment opportunity. This unit is extremely well specified and there is robust demand for good quality, mid-box industrial facilities in the North West region. We will continue to look for prominent and well-located industrial assets to add to our commercial property portfolio which is in excess of £70m.”

B8 Real Estate and Lamb & Swift acted for the vendor while Neil Higson at Wildbrook CRE acted for Eric Wright.