The 50-acre site consists of 679,845 square feet of internal space, spread across 45 industrial units and two office buildings.
The estate is located in between the M60 orbital and M62 motorway, making it easily accessible from Manchester, Yorkshire and Lancashire, and sits 22 miles from Manchester International Airport.
The acquisition is UBS Triton’s 13th industrial purchase, taking its exposure to the sector to 37 percent. According to the fund, the purchase is in line with its strategy of purchasing prominent multi-let commercial properties in growth locations.
Primarily based in the south of England, the asset manager currently holds 33 assets weighted to retail warehousing, offices, and student accommodation.
Howard Meaney, head of real estate UK at UBS Triton, said: “Stakehill Industrial Estate presented us with the rare and highly sought after opportunity to acquire a prime industrial asset of significant scale located in one of the country’s strongest distribution locations.”
“With limited supply locally, the fully-let estate benefits from a diverse income profile, with a broad range of regional, national and international tenants, while the assorted accommodation styles on offer meet the demands of virtually all types of warehouse occupier.”
He added: “This high-performing asset also presents excellent value enhancement potential through asset management and rental growth, enabling us to target the best returns for our clients.”