HARRIS LAMB SELLS LEAMINGTON SPA BUSINESS PARK FOR £34 MILLION

Harris Lamb has sold a prime Warwickshire business estate for £34 million.

Acting on behalf of Wolseley UK Limited, the business’ Commercial Agency team has sold the firm’s former Leamington Spa distribution site to Tristan Capital Partners.

The new owners plan to refurbish and extend the site to capitalise on the demand for high-quality industrial and office space in the heart of the country.

Charles D’Auncey, Director of Harris Lamb, said: “Extending to 440,000 sq ft, this is a high specification business estate in a prime location. Located on Harrison Way and joining Tachbrook Road, it falls within what is known as the ‘golden triangle’ – the UK’s prime logistics location along the M42 corridor and northern M40 sub-market.

“The site comprises of two high-specification distribution centres of 218,000 and 157,000 sq ft, a 66,000 sq ft modern office building, a 7,000 sq ft sustainability build centre and a further 3.15-acre parcel of land.

“The partnership plans to invest in upgrading the existing accommodation, while developing the additional land as speculative industrial and warehousing buildings, thereby creating Grade A office space and extensive industrial and distribution opportunities in a first-class UK location.

“Given the high levels of demand for such opportunities across the UK, and particularly within the Midlands, we anticipate the Fund’s plans will be very well received throughout the logistics and distribution sector,” added Charles.

Nicho Jenkins, Managing Director at Tristan Capital Partners, says: “The acquisition of this exciting campus gives the Fund an opportunity to deliver prime logistics space and Grade A office accommodation into strong occupational markets underpinned by favourable supply and demand dynamics.”