An established industrial estate close to Ellesmere town centre has been sold.
Offers in the region of £1,475,000 had been invited by Towler Shaw Roberts for Cargotec Industrial Park at Elson.
A sale has now been completed to Nephi Limited, a Basingstoke-based company, as an industrial investment opportunity.
An established commercial location, the multi-let estate comprises a mix of industrial and office buildings, which extends to 47,045 sq ft on a site of 8.11 acres (3.28 hectares).
It is predominantly let to Hiab Limited, a long-standing tenant, having been in occupation for more than 25 years.
With an extensive stock of plant and machinery on site, the company - the world’s leading provider of on-road load handling equipment, intelligent services and smart and connected solutions - use Cargotec Industrial Park as their main operation base in the UK.
Let to Hiab Limited until September 2022, the current passing rent is £131,500 per annum, exclusive of VAT.
Protected via secure gates, the estate was improved by Hiab Limited last year with the construction of a new internal canteen, locker room and toilets, demonstrating the tenant’s long-term commitment to the site.
Toby Shaw, who handled the sale to Nephi Limited for TSR, said: “It’s a well established industrial estate on the outskirts of Ellesmere which we acquired for a client over 25 years ago.
“We have subsequently looked after and managed the estate through the intervening years as it’s evolved.
“It stimulated much interest once it came to market, with a sale eventually agreed after we had invited best and final offers.
“Nephi Limited have recently acquired a number of investment properties and this expands their portfolio, with TSR retained to manage the site.”
Mr Shaw added: “It illustrates there continues to be a very strong demand for income producing properties.
“This follows our recent sale of Unit 13 at Shrewsbury’s Battlefield Enterprise Park, with Merryhills Enterprise Park at Wolverhampton currently under offer.
“These are the significant instructions we are attracting as a firm.”