INVESTORS BUY TELFORD WAREHOUSE FOR UNDISCLOSED SUM TO REFURBISH AND RE-LET
Commercial agents at Harris Lamb have sold a Telford warehouse to an investor for an undisclosed sum and have been further instructed to let the building.
Acting on behalf of a private client, the business sold the 29,887 sq ft two-bay warehouse on Stafford Park 12 to Mid Wales based Triang Developments Limited, who plan to refurbish and re-let the building to capitalise on the high demand for quality warehousing.
Matthew Tilt, of Harris Lamb’s Agency team, said: “The sale of this building to an investor shows that appetite is strong for good quality industrial units with confidence in the Telford occupational market.
“This property is well-specified and extremely well located just off junctions four and five of the M54 with prominence to the A464, making it a prime building for occupiers seeking a unit of this size and nature.
“Triang Developments secured the property off-market for an undisclosed sum and will now refurbish the building to attract a Tenant. They have instructed Harris Lamb to act as letting agent for the property, and discussions are already at advanced stage with a potential occupier,” he added.
James Owen, Director of Triang Developments Limited commented: “This is an important strategic acquisition for the company as we look to grow our portfolio.”
His colleague and Portfolio Manager, James Harrison, added: “This investment represents well the type of property we seeking to acquire; a good location and of a size and type where there is demand.
“We were able to move quickly to agree terms and complete the purchase and now have a programme of works underway so the property will be ready to handover to any tenant.”
The property has a shared yard to the rear for loading with two ground level roller shutter loading doors, with an internal height to haunch of 6.4 metres.
At the front of the building is a two-storey office and ancillary accommodation including a reception entrance, a locker room, toilets, a shower room, a main administration office, and meeting rooms. A mezzanine provides first floor storage.
The property also benefits from parking for up to 35 cars, accessed via a security barrier.
For further information please contact Matthew on firstname.lastname@example.org.