Longwood Park, Trafford Park

Property description

• A prime multi-let industrial estate located in the heart of Trafford Park which was acquired by Canmoor/Harbert in summer 2013 as part of the Merlin Portfolio. The deal comprised seven multi-let industrial estates representing the largest single ownership in Trafford Park.
• B8 Real Estate advised on the acquisition from the vendor, Segro.
• Longwood Park had undergone a partial refurbishment; however, there were a significant number of void units.
• Working in conjunction with Canmoor, B8 Real Estate advised on asset management initiatives involving the demolition of redundant buildings to create additional car parking along with additional on-site security measures and the phased refurbishment of the remaining units.
• These initiatives resulted in significant take-up, rental growth and longer lease commitments from new tenants including a 15 year straight lease to Yesss Electrical and 10 year lease to David Phillips Furniture.
• This instruction gave us an opportunity to work closely with the asset managers implementing a variety of initiatives resulting in a significant uplift in value over an 18 month period.