PAG sells two units

Property Alliance Group has sold two retail warehouse unit at the Alliance retail park in Chorley for £4million, reflecting an initial net yield at 6.2 per cent.

The units, which are 20,000 square foot, are currently let to Currys and Carpetright. The purchaser was a client of pension fund CBRE Investors and was advised by the CBRE’s North West capital markets team.

The agent said: “This opportunity was acquired off market, and provides a modern development, let on long leases to two strong covenants,” he said. “The income is reversionary and will provide guaranteed returns throughout the term.”