Blackstone portfolio company St. Modwen Logistics has purchased c.150,000 sq ft of prime urban logistics estate comprising four units in West Bromwich.
The assets are fully let to pallet manufacturer CHEP UK, specialist plumbing merchant Wolseley, wooden panel distributor Falcon Panel Products and heat treatment specialist ADI Treatments.
Doranda Way Industrial Park benefits from its prime location in the heart of West Bromwich’s thriving and well-established distribution area. The Park is strategically positioned adjacent to Junction 1 of the M5 motorway, and in close proximity to the M40 and M42 motorways, enabling customers to reach 85% of the UK population within a four-and-a-half-hour drive.
Doranda Way is also at the centre of a large and densely populated urban area, with Birmingham city centre just a 12-minute drive away and the Black Country on its doorstep, making it popular with national and regional businesses alike. As a sought-after logistics location, demand for high-quality warehousing in the area is high, but local supply is acutely constrained, pushing vacancy rates to record lows.
Oliver Smith, Senior Investment Manager at St. Modwen Logistics, commented: “This acquisition further evidences our ability to identify and execute transactions in urban submarkets, where supply is very limited and future development will be restricted by a lack of land availability.
“Doranda Way is fully let to four robust businesses and we look forward to welcoming them into the St. Modwen Logistics family and working with them to support their future plans. As this deal shows, we are continuing to actively seek opportunities to acquire space in the UK’s most in-demand logistics locations to support businesses at all stages of their growth.”
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