The investor and developer has acquired 83,445 sq ft of business space at Altrincham Business Park from Frogmore for an undisclosed sum.
WHR Property advised CEG, while CBRE acted for Frogmore.
Dan Crossley, investment partner at WHR, said: “CEG knew immediately that this was exactly the type of opportunity they were seeking. The park’s success has been reflected in the record capital values that had been achieved in earlier sales to owner-occupiers at these two schemes and my client was also very aware of the increasing occupational demand within the area. In short, a very savvy acquisition.”
"The deal process was a true team effort from the outset and proved essential in such a competitive environment. CEG has already devised an asset management strategy for the estate that will see significantly improvements very quickly and a repositioned agency offer."
The freehold deal covers 24 commercial units across St George’s Court and Edward Court. Thirteen of the units have been sold off as long leasehold with 11 remaining in full ownership. Of these, five are fully let, two are partially let and four are vacant.
CEG’s other North West interests include Stakehill Industrial Estate, 196 Deansgate in Manchester, Jackson House in Sale and Exchange Station in Liverpool.