Warehouse changes hands as Burley Browne completes deal!

Commercial | 19.03.2024

A Staffordshire warehouse unit has changed hands in a £2.7 million off-market deal completed by commercial property consultancy Burley Browne.

The 31,686 sq ft unit at Europa Way Industrial Estate in Lichfield has been acquired by a private investor from a private investment fund, Burley Browne senior associate director Ben Nicholson announced today.

The acquisition marked the latest stage of a busy period for Burley Browne’s industrial team which has completed several key deals over the past 12 months.

“We are excited to announce that, against competing interest, we have been able to acquire a good quality warehouse investment on behalf of our client at one of Staffordshire’s leading industrial estates,” said Ben.

“It has been a tremendous few months here at Burley Browne. This is just the latest in a series of deals we have completed since the turn of the year and follows on from a really busy 2023, which included the sale and leaseback of a 40,000 sq ft unit in Swadlincote, an investment sale of a 28,000 sq ft unit in Tamworth together with the sale of a 32,000 warehouse in Aldridge.

“Burley Browne was also retained as the agent on behalf of the new owners of the Aldridge premises and successfully completed the re-letting in October last year. 2024 has picked up where 2023 left off and there is so much more in the pipeline.”

Located immediately adjacent to the A38 dual carriageway, the Europa Way property has excellent road links and forms part of an established industrial estate which has nearby occupiers including Howden Joinery, Screwfix and Halfords.

The modern, detached warehouse building is currently let to Riva EL Limited for a term of five years from July 2020. The purchase price reflects a net initial yield of around 6% based on the passing rent after deducting purchaser’s costs and a capital value of £85 per sq ft.

For further information about any other commercial property instructions and/or requirements you may have, please contact the agency team at Burley Browne on 0121 321 3441 or via e-mail - enquiries@burleybrowne.co.uk. You can also follow us on twitter @BurleyBrowne or via LinkedIn and keep up-to-date with all our latest news and properties.

Burley Browne is one of West Midlands leading independent commercial property consultants providing a comprehensive range of commercial property services to a wide variety of clients. These include private individuals and small businesses through to pension fund banks, property investors and developers, multinational companies, national retail and leisure operators.

For more information on the industrial market and available properties please contact the industrial agency team at Burley Browne on 0121 321 3441, email enquiries@burleybrowne.co.uk or visit the property search function on our website www.burleybrowne.co.uk. You can also follow Burley Browne on Twitter @BurleyBrowne or via LinkedIn to keep you up to date with all of our latest news and properties.