West Midlands warehouses sold in £18.6m deal

West Midlands warehouses sold in £18.6m deal

A pair of warehouses in the West Midlands have been acquired as part of a £18.6 million property portfolio sale.

AIM-listed Warehouse REIT has acquired four sites covering 200,000 sq ft.

The deal includes two industrial units totalling 48,000 sq ft on the 77-acre Stonebridge Cross Business Park, in Droitwich Spa, and Valley Point, a 39,000 sq ft unit on Swift Valley Park in Rugby.

The other units acquired as part of the deal are based at two sites in Warrington and are all fully occupied.

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Andrew Bird, managing director of investment adviser on the deal Tilstone Partners, said: “We are pleased with this latest addition to the company’s portfolio which represents an increasingly rare opportunity to acquire a strategic portfolio of assets, in tactical last mile distribution locations.

“They are capable of serving the growing e-commerce demand benefitting from ease of access to major UK conurbations in the North West and West Midlands regions.

“Furthermore, a number of lease events offer the opportunity to increase the longevity and quality of income over the short and medium term.”

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