Bilfinger GVA’s Manchester office agency team has completed the sale of Building 1100 at Daresbury Park, Warrington, at a value of £6.35m, with a net initial yield of 9.81%.
Acting on behalf of a private landlord, Bilfinger GVA sold the freehold office building to North West Portfolio. The property provides 41,733 sq ft of prime office space over three floors.
The headquarter-style office building, which is currently let by NDA Properties Ltd, generates a gross income of £659,000 per annum with the overall rent equating to £15.79 per square foot.
Situated within 255 acres, the Daresbury Business Park’s strategic location at junction 11 of the M56 provides strong transport links to Manchester and Liverpool. Future phases for the office development include a hotel, leisure, nursery and retail facilities.
Other occupiers of the business park include De Vere Group, ABB, Angelo Designs, Ministry of Justice and Ombudsman Services.