The Charles Street Group, Clients of Fifield Glyn have invested £1,729,000 in the forward funding of a new distribution unit, pre-let to the Post Office, at Southport Business Park.

Stockport based developers CTP Ltd are now constructing the 2,322.5m² (25,000 sq.ft.) building which will be used as a new Sorting Office by the Post Office when completed in August.

The Unit has been let at £140,000 p.a. for a term of 20 years from practical completion, subject to a Tenants only break at the end of the 15th year. The completed investment will show a yield close to 8%.

Manchester’s landmark Express building has been acquired by a private client of Fifield Glyn and Lewis & Partners.

The Grade II listed 6,942 sq m (74,717 sq ft) property was sold by United News & Media for £6 million, equating to a net initial yield of 8%. The main Tenant is Friends Provident.

Fifield Glyn, Chartered Surveyors, of Gadbrook Park, Cheshire have promoted Edward G. Fifield, BSc, ARICS and Charles G. Fifield, BSc (Hons.), ARICS to Associate Directors.

Edward has been with the firm for just over 2 years and is responsible for the Property Management Department. Charles has been with the firm for just over 4 years and handles Landlords & Tenant and Agency work

The brothers obtained their Degrees at Cirencester, with their early education at The Grange Grammar School, Hartford.

Private investment clients of Fifield Glyn have acquired a freehold office investment at Cavendish House, 78 Duke Street, Barrow-in-Furness from Teesland Development Company Ltd.

The property comprises a new office building of 645m2 (6,920 sq. ft.) let to Barrow-in-Furness Borough Council for a term of 10 years from April 1999.

The acquisition price of £525,000 represents a net initial yield of 9.4%.

Cheshire based developers Osborne House Ltd have sold a Long Leasehold Office Investment at No. 3, Royal Mews, Gadbrook Park, Northwich, Cheshire to a private investment client of Singletons, Manchester.

The property comprises a newly completed office building of 195m² (2,100 sq.ft.) let to Ingenico Fortronic Ltd. for a term of 15 years from August 1999, subject to a tenant’s break at the end of the 10th year.

The sale price of £290,000 represents a net initial yield of 8.84%.

Osborne House were represented by Fifield Glyn.

Irish clients of Fifield Glyn have sold a modern, 2,152m² (23,170 sq.ft.) industrial unit at Denby Way, Hellaby Industrial Estate to History & Heraldry Limited of Rotherham.

The purchase price was £557,500.

The Vendor was represented by Fifield Glyn (01606-351351) and Fuller Peiser.

Ingenico Fortronic Ltd., a High-Tec company employing over 200 people in Dunfermline and Northwich, have entered into an Agreement for Lease on No. 3 Royal Mews, Gadbrook Park, Cheshire from Developers, Osborne House Ltd

The company, which manufactures, services and manages state-of-the art credit and debit card payment terminals, have taken a new 15 year FRI lease, subject to 5 yearly upward only rent reviews, at an initial rental of £27,000 pa (£12.85 psf/£138.39 per m²).

The self-contained office building comprises 2,100 sq. ft. (195m²), has 11 dedicated car parking spaces and is currently being fitted out to the Tenant’s specification by the Developers, who are advised by their retained Agents, Fifield Glyn (01606-351351).