The new portfolio consists of three sites. Twelve Quays in Birkenhead, Merseyside, comprises 60,000 sf in six units, and is fully let to tenants including Liverpool John Moores University and CML Group. Vanguard Court in Stockton, Teesside, comprises nine units totalling 71,700 sf. Five of the units are let to tenants including the interactive service provider Thus, while rents of about £3.75 ($5.90) per sf are being quoted for the remaining four units. And the Westerleigh Business Park in Yate, Bristol, provides 87,500 sf in ten units. With only two units vacant, tenants include Consignia and the McNaughton Paper Group.
David Saville, Managing Director of Avon Capital Estates said: "This is an excellent deal for all parties involved. Not only is the acquisition a valuable addition to our rapidly increasing industrial portfolio but it complements Capital & Regional's strategy to focus on its core business in the retail and leisure sector." Strutt & Parker acted for Avon Capital Estates, while Capital and Regional was represented by Hoddell Stotesbury.
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