LANGTREE has acquired an industrial complex in Warrington in a deal worth £3m.

The company has bought Warrington Central Trading Estate, comprising 120,000 sq ft of space, from Aviva.

Langtree says the 11-acre site, which is situated off Dallam Lane, to the north of the town centre and adjacent to Warrington Wolves rugby league stadium, has huge potential for income generation.

Martin Mellor, property director at Langtree, said: “Warrington Central Trading Estate is currently only 50% let and as a big edge-of-town site with good long term potential, it’s a perfect fit for our investment portfolio.

“We will shortly start work on a substantial upgrade programme to enhance the site.

He added: “We feel that these works combined with the location will position the estate to readily attract new tenants.”

Following the upgrade works, a range of industrial units, some with overhead craneage, will be offered by Langtree ranging from 2,000 sq ft to 20,000 sq ft.

In addition, there is approximately 2.5 acres of hardstanding space which Langtree intends to let as open storage.

Mr Mellor added: “With our in-house letting and locally based hands-on management expertise, we are confident that the newly refurbished site will attract a good level of interest from the local market.

“Good quality industrial space on a well-managed site, close to the town centre with easy access to the M62, is certainly hard to find.

“Langtree is an active investor in sites like this and we’re keen to acquire more.

“People are coming to us with opportunities and I expect we’ll be doing more deals in the coming months.

“It’s certainly good to be back on the acquisition trail.”