Nothamptonshire warehouse changes hands in £6.375m deal
August 27th, 2019
The East Midlands office of Leading property consultancy Commercial Property Partners LLP (CPP) has advised a major client on the acquisition of a £6.375m warehouse in Rushden, Northamptonshire.
The 76,840 sq ft single storey warehouse, which sits on a site of 6.6 acres, was acquired by the MGTS St Johns High Income Property Fund, with St Johns Asset Management Ltd, part of the AFH Financial PLC group, acting in their capacity as the appointed investment advisers to the Fund. Northampton based TDB Real Estate acted for the vendor.
Currently let to Prestige & Homeseeker Park and Leisure Homes Ltd, one of Europe’s leading manufacturers of park homes and leisure lodges, the warehouse is located in the popular Express Park on Shipton Way, an established distribution and manufacturing employment area in the Midlands.
The site benefits from excellent transport links, being Adjacent to the A45, in turn leading to UK prime trunk roads including the A14 to the East and the M1 (Junction 15) to the West.
Stuart Waite, Partner at CPP, said: “We are delighted to have acquired this modern facility for our clients, which meets with their investment criteria given the property’s solid fundamentals and clear scope for future rental growth.
Richard Bryan of AFH commented: “The Fund continues to grow in size and we welcome this latest addition which was completed within 4 weeks of receipt of the full legal pack. We remain active and hope to announce further acquisitions in the near future”.
Chris Drummond TDB Real Estate added: “This good quality investment opportunity was a relatively rare commodity in the current market, and it was always therefore going to create significant interest, which proverd to be the case. AFH and CPP were a pleasure to deal with throughout the transaction, and fulfilled all of their commitments and obligations within the timescale agreed”.