Manufacturing HQ sold in multimillion-pound deal

Telereal Trillium has sold Koito’s manufacturing HQ in Droitwich Spa to Atlantic Leaf Properties for £11.89m.

It said the sale capitalises on the improvements Telereal Trillium has made to the asset including securing a long-term renewal with Koito Europe, a global manufacturer and supplier of automotive lighting systems.

The purpose built manufacturing facility occupies 9.08 acres on the Hampton Lovett Industrial Estate. The premises are located next to Koito’s distribution unit and function as its UK manufacturing headquarters.

The purchaser, Atlantic Leaf Properties, is a Jersey incorporated UK REIT with a portfolio comprising 59 industrial and office properties with a total value of £380m.

Paul Munday, head of investment acquisitions at Telereal Trillium, said: “Since acquiring this asset, we have worked closely with Koito to secure their long-term future at these premises. Having successfully completed our asset management plan, it was the right time for us to sell the investment.

“We are pleased to deal with Atlantic Leaf Properties on the sale of the property and our focus is now continuing to look for other strategic investment opportunities across the UK where there is potential to add similar value through active asset management.”

ADS Real Estate advised the purchasers, while Allsop advised Telereal Trillium.

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