Rockingham Gate, which is part of Avonmouth’s Cabot Park, has been bought by newcomer Landmarq. The Manchester-based investment syndicate, formed by Michael Jones, Stephen Chicken and Jonathan Nuttall, obtained the property as part of an acquisition from Cabot Park owner Burford Group.
More than 51,000sq m has been bought in a deal involving Cabot Park and Moorgate Point in the North-west. The agreement is worth about £20M, and is expected to provide an annual rent of £1.8M for the new owner.
Commenting on the deal, Burford Group director Mike Forster says: “Rockingham Gate is one of the great success stories of Avonmouth with just one 2,323sq m unit remaining. We were approached by Landmarq with an attractive offer for both the sites and, after careful consideration, we decided to release the properties in order to concentrate on other assets.”