Warrington Borough council has paid £45.3m for a distribution unit of 377,000 sq ft fronting on to the M6 motorway in Haydock Industrial Estate.

Niche North West industrial agent B8RE, acting on behalf of A S Kendall and S R Thomas of Moorfields Advisory as joint administrators of Industrial North West, disposed of the asset.

The property, which was completed this year, is let to Movianto, a global healthcare logistics services company on a new 15-year lease with an option to determine at year 10.

The investment reflects a net initial yield of 4.82%.

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