Sandyford Properties, the UK multi-let industrial property company, has acquired an industrial estate in Cannock for more than £7 million, further expanding its footprint in the West Midlands and reinforcing its strategy of investing in modern, purpose-built industrial assets with opportunities for future growth.
The multi-let estate, comprising Hollies Business Park and Hollies Court, extends to 75,890 sq ft across 20 industrial units, four self-contained offices, a retail unit and an open storage plot on a 5.66-acre site. It is fully let to 13 occupiers spanning manufacturing, engineering, construction, infrastructure and service businesses at an average rent of £6.24/sq ft. It is well located close to Cannock town centre, Cannock railway station and key motorway connections including the M6 Toll and M6 and also offers opportunities for rental growth and wider asset management initiatives.
The acquisition marks Sandyford’s second purchase in the West Midlands, following that of an industrial terrace in Halesowen earlier this year, and forms part of the company’s wider strategy to grow its presence across the Midlands and North West.
Paul Brindley, managing director of Sandyford Properties, said: “Hollies Business Park is exactly the type of asset we are looking to acquire. It is a purpose-built estate with a strong occupier base, modern accommodation and clear opportunities to create additional value through active asset management.
“Cannock is a core target location for us and an area where we are looking to grow over the coming years. The estate sits in one of the town’s established commercial locations, but its proximity to the town centre, railway station and major road links means it appeals to a broad range of occupiers beyond traditional industrial users.
“We have been tracking this opportunity for more than a year and know the estate well. It complements our existing portfolio and represents another important step in our strategy to grow Sandyford’s presence across the Midlands.”
Sandyford identified the opportunity more than a year ago and was first introduced to it by The Acquisition Group. Savills advised Sandyford on the acquisition, while Hill Dickinson provided legal advice. CBRE acted for the seller, a private investor.
