Tandem Investments has recently acquired a prominent industrial unit in Northbank Industrial Park, off Ferrous Way in Irlam, for an undisclosed sum. The unit, was previously listed at £2.75 million, was purchased from AEW.
Situated on a 1.2-acre site, the 33,732 sq ft unit is currently leased to catering butcher firm MJ Birtwistle & Co, which uses the facility as its UK headquarters. The lease extends until April 2038, providing Tandem with an annual passing rent of £205,837, equivalent to £6.10 per sq ft.
Tandem’s Director, Chris Lloyd, commented on the acquisition:
“Northbank Industrial Park is a prime industrial location. The passing rent is significantly below its market value, and combined with its strategic location, the business case for acquiring this asset was compelling. We look forward to collaborating with the tenant to enhance the asset over time.”
Tandem Investments was advised by Zaman Roberts and Avison Young, while AEW was represented by Cushman & Wakefield.
Rehan Zaman of Zaman Roberts expressed satisfaction with the deal, stating:
“Following the purchase of Ashbridge on Trafford Park, we are pleased to have advised Tandem on another significant deal in Irlam. These locations are among the best industrial sites in the North West, positioning our client for excellent returns.”
Tandem Investments was co-founded in 2023 by Richard Rees and Chris Lloyd who started their careers on the same path – both with a Bachelor of Science Degree in Land and Estate Management.
Between them, Richard and Chris have accumulated a breadth of experience, creating credible portfolios of successful real estate and renewable energy investment projects.
Having worked together for a number of years, Richard and Chris saw an opportunity to combine their talents, contacts, knowledge and ambitions in real estate to co-found Tandem Investments Limited in 2023.
Since its establishment, Tandem Investments has grown rapidly adding a number of assets to the portfolio, and now having £42 million of assets under management, totalling 450,000 sq ft.
