Commercial Finance Specialists

A commercial development in Chorley has been obtained for £4 million by a mystery pension fund.

A property investment arm of a mystery UK pension fund has completed the purchase of warehouse buildings in the north-west, it has been announced.

The commercial development site at the Alliance Retail Park on Water Street in Chorley was sold for £4 million, according to the Lancashire Evening Post.

This site consists of around 20,000 sq ft of commercial property, which is currently let by the retailers Carpetright and Currys.

Real estate agent CB Richard Ellis (CBRE) brokered the deal on behalf of the buyer, with its location being one of the main selling points.

CBRE director Rob Woods told the publication: "This opportunity was acquired off market, and provides a modern development, let on long leases at a retail park very well located and established out of town retail destination that continues to improve."

Earlier this week, rival agent Jones Lang LaSalle said that a shortage of warehouses and manufacturing sites in the north-west could lead to commercial development opportunities.

Posted by Tess Nelson.