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Acting on behalf of Brymau Estates, Legat Owen has announced the sale of a multi-let portfolio of managed workspace developments in Saltney to Sandyford Properties, in a deal worth approximately £9million.

The assets acquired comprises four industrial parks and two flexible workspace sites, all located in close proximity in Saltney, near Chester.

Together they account for approximately 230,000 sq ft of lettable space accommodating over 90 occupiers and generating a total net income of circa £915,000 per annum. The properties include Brymau Two and Three, Four and Six; The Sidings and Red Hill House.

Sandyford Properties has until now focussed principally on multi-let industrial assets in Staffordshire.

Managing Director Paul Brindley said the deal is a great fit for Sandyford Properties and represents a continued evolution of the business.

He added: “Brymau Estates has been in family ownership for over 50 years and, as such, epitomises much of the long-term approach and the values which are consistent with our own business.

"Much like the existing Sandyford Properties’ sites, the portfolio largely consists of sub 10,000 sq ft units, many of which are let to local, owner-managed businesses with which we can pursue a partnership approach, providing them with the space to grow.”

“Our home area of North Staffordshire is still critically important to us and will continue to be somewhere where we look to grow and expand. However, this acquisition provides us with the opportunity to grow our customer base in a new location where there is strong demand from both national and local occupiers.