Submitting.
It is located on Everite Road, Widnes, Towngate Business Park provides easy access to the M62 via the M57 (1 mile) and south to the M56 (1 mile), leading to the M6.
The asset is fully let and generates rental income of £958,000 per annum.
Harworth said the transaction was in line with its growth strategy and added it intends to invest in the estate, leveraging its asset management expertise to capture rental reversion and explore infill development opportunities over the medium term.
The acquisition has been funded by proceeds from the company s active churn strategy in its income portfolio, recycling capital through the disposal of non-core assets or those where the Group has completed its asset management business plans. Most recently, this manifested in the £3.35 million sale of Lynfield Park, the former Alcan Rio Tinto smelter in Northumberland, in February 2021, ahead of book value.