Off market acquisition of Prince Mead Place, Trafford Park completes for £11.5m
Prince Mead Place is a multi-let industrial estate located adjacent to DTZ Investors’ existing holding in Manchester’s primary industrial area, Trafford Park. The units are let to seven tenants providing a weighted average unexpired lease term of 4.4 years, at a low average passing rent of £5.55 per sq ft.
The acquisition provides exposure to a core industrial location, with good rental growth prospects underpinned by strong occupier demand and a continuing lack of supply.
DTZ Investors was advised by Savills.