A NEWLY-DEVELOPED industrial estate in Winsford has been sold for more than £22 million.

Joint Venture partners Maple Grove Developments, Yorvale and Kier Property have sold Artis Park, off Road One, to The Albert Gubay Charitable Foundation.

Situated on a 6.7-acre site, Artis Park is one of the first new-build multi-let industrial estates of its size to come onto the market.

The site, which was sold for a total of £22.8 million, is home to 13 units and comprises almost 124,500 sq ft of floorspace.

The first phase of the development - consisting of 10 units – opened in November 2020, while the remaining three units completed in February this year.

The development is 83 per cent let with tenants including Screwfix, Toolstation, City Plumbing, British Red Cross, Ross Care, Gemco and Valentte.

Leigh Thomas, managing director at Kier Property, said: “The sale of Artis Park reflects the value of this excellent investment asset which is a direct result of the high specification and quality of the development.

"The JV recognised the lack of Grade A industrial supply at the inception of the multi-let scheme; it is excellent to see the regeneration of this site delivering new jobs and first-class space for businesses to grow.”

Nik Puttnam, senior development manager at Maple Grove Developments, added: “Artis Park has performed very well right from the start.

"Throughout the life cycle of the project we have worked very closely with the letting agents, Gerald Eve and Legat Owen, who have excellent knowledge of the Winsford market.

"Securing so many occupiers has allowed the JV to maximise the value of the asset and successfully dispose of Artis Park at a very respectable yield."

Jonathan Black, property director at Derwent Estates, part of The Derwent Group of companies and an operating subsidiary of The Albert Gubay Charitable Foundation, said: “We have been keen to acquire a well-located and modern industrial asset to fulfil our current investment objectives.

"The acquisition of Artis Park is a great addition to our industrial holdings and further diversifies our portfolio, which is predominantly made up of retail warehouse schemes across the north of England.

"This opportunity fitted with our investment criteria and will allow the group to generate more income for the charity it serves.”

Winsford Devco LLP were advised by B8 Real Estate and Eversheds Sutherland. The Albert Gubay Charitable Foundation were advised by Christopher Dee and Land Law.