Wilmslow property company sells off industrial portfolio for £18.25m

Wilmslow-based property firm Quorum Estates Limited has sold off its industrial portfolio in an eight-figure deal.

Warehouse investment company Warehouse REIT plc snapped up the seven properties for £18.25m.

The portfolio comprises Road One, a 78,178 sq ft warehouse in Winsford; Parkway Zone 2, a 60,081 sq ft production facility at Deeside Industrial Estate in Chester; and Quantum Park, a 46,507 sq ft trade counter in Manchester.

Also included in the deal are the the following warehouses: the 40,000 sq ft Europa Trading Estate in Kearsley, Manchester; 38,901 sq ft Wardley Industrial Estate in Manchester; 48,074 sq ft Linkway Industrial Estate in Middleton; and 14,513 sq ft Oakfield Centre in Sharston, Manchester.

The transaction follows a busy 12 months for Quorum, which last year completed Stockport Homes’ new 50,000 sq ft HQ and acquired, let and funded more than 200,000 sq ft of industrial building and development land in Crewe with Cabot Properties Inc.

Paul Wardle, managing director at Quorum, said: “Quorum has always been very active in the North West industrial sector and this portfolio was selectively built up over the last 20 years.

“We made the decision to take advantage of the current buoyant industrial investment market and the capital will provide us with the opportunity to actively expand our existing office portfolio as well as to acquire new industrial stock.”

Andrew Stewart, of property investment consultants Stewart Montrose, acted for Quorum in the deal.

Warehouse REIT plc has offices in London and Chester.

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