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HMG SELLS 108,000 sq ft Bishops Court

HMG Investments Limited (HMG) has sold Bishops Court on Winwick Quay, Warringon in an off-market deal to IOGP Limited.

HMG acquired the 110,000 sq ft 8 unit estate in November 2016.  Bishops Court is a modern industrial estate providing 8 units and is home to 7 tenants, including The Hut Group, Optibelt, Bliss Supplies, Newton-Le-Willows Blinds. In total the estate generate around £435,000 per year in rent. When HMG acquired the estate, it was only 50% let and was in need of some

Nick Casson, CEO of HMG, said: “As soon as we bought the estate, we implemented a strategic plan to asset manage the property and quickly let the vacant units and re-geared a number of existing leases. This coupled with a quickly improving investment market in the industrial sector gave us the opportunity to realise a healthy profit in a short period of time.

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