Property investor concludes twin deals at Staffordshire business park
Property investor LGIM Real Assets has completed two major letting deals for its Fradley Park site in Lichfield.
Premier Nutrition, a leading animal nutrition specialist, has agreed a 15-year lease on a 29,489 sq ft unit, while a 126,993 sq ft warehouse has also been let to a global supply chain operator.
The deals come as a refurbished 108,492 sq ft unit on the estate has been placed on to the market.
Matt Jarvis, fund manager of the Legal & General UK Property Fund, said: “These lettings are a fantastic addition to Fradley Park and it is testament to the high-quality warehouse space on offer, as well as the sites strong transport links.”
Matt Tilt, LSH industrial agency director in Birmingham, who is acting as joint agent with GVA, said: “Fradley Park is recognised as one of the Midlands’ leading warehouse and distribution parks and it will always attract high quality occupiers.
“We’re delighted to welcome Premier Nutrition, a major animal nutrition and vitamin pre-mix manufacturer food company, which is created and operated by some of the world’s leading nutritionists. It is increasing its production capacity at Fradley as it expands its business.”
Premier Nutrition’s general manager Chris Rackham said: “Our substantial investment in additional new production facilities at Fradley Park, combined with recent investment in our nearby factories at Rugeley, will ensure we have industry leading facilities from which to produce high quality products to meet the future needs of our customers in the UK and overseas.”
David Willmer, industrial agency director at GVA, added: “We are expecting a lot of interest in FP108 at Fradley Park, and we’re confident it won’t be on the market for very long. It represents a fantastic opportunity to locate to a high quality warehouse situated at the heart of the country’s motorway network. The transport links are exceptional and the site is enormously popular within the distribution sector as evidenced by recent successes.”
Existing tenants at Fradley Park include DHL, Hellman, Norgren, Great Bear and Tile Giant.
