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Developer CEG adds Altrincham schemes to portfolio

Investment and development firm CEG has added two schemes at Altrincham Business Park to its property portfolio.

The company has acquired units at St. George’s Court and Edward Court totalling 83,445 sq ft of accommodation from real estate fund manager Frogmore.

The deal comprises 24 high quality units, 13 of which have been sold as long leasehold with 11 still in full ownership.

Of the remaining units, five are fully let, two partially let and four are vacant.

Dan Crossley, investment partner at WHR Property, which advised CEG on the deal, says: “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 the earlier sales to owner-occupiers at these two schemes and my client was also very aware of the increasing occupational demand within the area from tenants seeking pleasant and contemporary working environments. In short, a very savvy acquisition.”

The deal, which was completed for an undisclosed sum, comes one month after CEG purchased Appleton House and Atlantic House at Birchwood Park in Warrington from Aviva Investors.