Acting on behalf of Stainton International, CBRE’s Manchester Capital Markets team has sold a 74,712 sq ft industrial unit in Wrexham, occupied by Calypso Soft Drinks Ltd, to Target Real Estate for £2.5m representing a Net Initial Yield of 8.42%.
The 74,712 sq ft storage/distribution warehouse is located on Wrexham Industrial Estate, one of the largest estates in Europe, home to 300 national and international business including Kellogg’s, HSS Hire and JCB.
Calypso Soft Drinks Ltd is in occupation on a 15 year lease until 2020 and the firm has a long-standing commitment to the area, with its UK Head Office operations located adjacent to the unit. The ‘Calypso’ brand has been in existence since 1886 and provides retailers, cafes and schools with a range of beverage products.
Robert Woods, Director of Capital Markets at CBRE’s Manchester office, said;
“We were pleased to act on behalf of Stainton International in the sale of the Calypso facility to Target Real Estate. The property is located within one of the North West’s most acclaimed industrial estates and close to Wrexham, the principal commercial centre and largest town within North Wales. Additionally, Calypso’s commitment to the immediate locality indicates long-term rental security for Target Real Estate.”