Tristan Capital Partners and Canmoor have acquired a mixed-use property in Leamington Spa from Wolseley UK Limited for £34.0 million.
The 440,000 sq. ft. mixed-use property is located in 1.5 miles from Leamington Spa, about 27 miles to the southeast of Birmingham.
The estate currently comprises two well-specified distribution warehouses of 218,000 and 157,000 sq.ft, a modern office of 65,000 sq.ft and a 3.15 acre parcel of land. The partnership will refurbish the existing accommodation whilst developing new warehouse space on the land.
Nicho Jenkins, Managing Director at Tristan Capital Partners, said: “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. We’re looking forward to working with Canmoor to deliver a project in which we have high conviction.”
Tom White, Principle at Canmoor, said: “We are delighted to be working with Tristan on this exceptional opportunity. The property offers a collection of high quality, vacant buildings which we plan to upgrade and extend immediately. There is a limited supply of competing stock, and accordingly the property is already receiving significant interest from occupiers”.
Source: Tristan Capital Partners Press Release