Multi-let property company Sandyford Properties has acquired two more industrial estates, including one in its Stoke-on-Trent heartland.
The estates were acquired in two separate transactions from a UK institutional investor.
They double the number of acquisitions carried out by Sandyford in 2023, which have added 170,000 sq ft to its portfolio.
In Stoke-on-Trent, Sandyford has acquired Fenton Industrial Estate, made up of 25 units on Reads Road, totalling 27,726 sq ft. There are 21 tenants including Premier Fuels & Lubricants and Stoke-on-Trent City Council, and two vacant units.
The other acquisition is Astmoor Industrial Estate in Runcorn, in Cheshire, which has 12 units, totalling 67,149 sq ft, of which two are vacant.
Paul Brindley, Managing Director of Sandyford Properties, said: “These acquisitions are perfect acquisitions for us – multi-let, purpose-built estates with unit sizes of less than 15,000 sq ft and plenty of asset-management opportunities.
“Fenton is in a strong location, where we have deep roots and local knowledge. Runcorn presents lots of asset management angles for us to add value and adds to our growing northwest presence, following our recent acquisitions in Chester, Deeside and Congleton.”
Sandyford Properties, based in Hanley, was established in 1947 and has a focus on Staffordshire and Cheshire.
In October, it secured a new £20 million revolving credit facility to allow it to move quickly to secure new acquisitions with the hope of doubling the size of the firm’s portfolio in the next five years. Read the story in Daily Focus here.
