Bromwich Hardy clinches prime warehouse deal
Leading Midlands commercial property specialist Bromwich Hardy has helped clinch a deal for the acquisition of a prime 40,000 sq ft warehouse – and now expects strong interest in the site.
The Wigley Group has agreed a deal to acquire the site in Southam, Warwickshire, opening up an opportunity for a regional logistics operator to establish in the heart of the distribution network.
Tom Bromwich, partner in Bromwich Hardy, acted for the group in the deal and said it was an excellent acquisition.
“The Wigley Group has made an astute acquisition off market, capitalising on the lack of empty commercial stock.
“The property is really well-located on the main industrial estate in Southam with easy access to the central motorway network.
“There are no buildings of this type with an eaves height of nine metres, and with good offices, yard and parking. With our knowledge of Southam, we expect there to be strong interest.”
The modern high-bay building with offices is located on the main industrial estate in Southam and is now available for lease, with regionally-sized logistics and distribution operators expected to lead the interest due to high demand for commercial buildings of this type in the area.
The property boasts an eaves height of approximately nine metres, rising to around 13 metres at the apex, making it an attractive space for large-scale storage with extensive racking available.
It also includes a 2,000 sq ft mezzanine, two self-contained internal office blocks, goods yard and on-site parking with 46 spaces.
The unit lies within close proximity to Leamington, Daventry, Coventry and Banbury, with easy access to the regional motorway network.
James Davies, managing director of The Wigley Group, said: “We are delighted to have agreed this deal, not only as a strong addition to our portfolio but also in continuing to support our local economy by helping to meet a real shortage of commercial property.
“There is a recognised high demand with low supply of available buildings of this type and with its nine metre eaves and good connections to the M40, M45 and M1, we are anticipating considerable interest particularly from regionally-sized logistics operators.”
Bromwich Hardy is now marketing the leasehold with Wareing & Company.
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17 June 2019