Property group announces £7.5m takeover of Altrincham industrial estate

Stag Industrial Estate in Altrincham has been snapped up in a seven-figure deal.

The 80,246 sq ft, 24-unit scheme on Atlantic Street was acquired by Schroders’ Multi-Let Industrial Property Unit Trust (MLIPUT) for £7.525m.

Professional services firm JLL sold the estate on behalf its investment management business, LaSalle IM, with Cushman & Wakefield acting for MLIPUT.

Stag Industrial Estate is currently home to 19 businesses, among them Plumbase, Edmundson Electrical, Brandon Hire and Crown Paints.

The head of Schroder Real Estate Capital Partners, Graeme Rutter, said of the deal: “This is another important acquisition, as it fulfils three important objectives for MLIPUT in providing regional diversification, spread of tenant risk and a great opportunity to re-position and add value.”

Cushman & Wakefield’s Simon Marshall commented: “The South Manchester industrial market continues to attract good occupier demand, and with a dearth of new supply, quality estates like Stag are set to reap the rewards of strong rental growth.

“Stag Industrial Estate not only offers a secure income stream to a quality tenants, but the potential to capitalise on an increasingly trade focussed location.”

Craig Barton, also of Cushman & Wakefield, said: “We are delighted to secure another opportunity for our MLIPUT, following our recent success in acquiring Parkway IV, Trafford Park. South Manchester, particularly in areas like Altrincham, has seen significant reductions in industrial stock due to land being sold for higher value residential developments.

“We expect this reduced supply, alongside strong demand to drive strong investment performance at Stag Industrial Estate.”