Prime Nottingham warehouse and offices sold to AIM-listed investor
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A Nottingham warehouse and offices occupied by ZF Services UK have been acquired by AIM-listed Urban Logistics REIT.
The property sits on a site fronting the A52 on Abbeyfield Road. ZF Services UK has been trading in Nottingham for over 40 years overhauling and repairing gearboxes and transmissions for rail, automotive, marine, defence and commercial vehicle markets.
Richard Moffitt of Urban Logistics REIT said: “Our investment strategy is focused around the best locations for Urban Logistics within core UK markets. The property occupies a prime location on the fringes of Nottingham city centre, being highly prominent and benefiting from excellent public and private transport connectivity, complimented by a high calibre surrounding occupier mix.
“The property is well let to a strong covenant in a location that is considered Grade A for Urban Logistics within Nottingham. Combined, these perfectly complement our asset management strategy.”
Giles Patterson of vendor Accrue Capital added: “We are pleased to have concluded the sale to Urban Logistics REIT, having worked through a successful asset management strategy for the fund on this property, ultimately achieving an excellent result.”
M1 Agency acted on behalf of Urban Logistics REIT. James Keeton of its East Midlands office said: “We are pleased to have negotiated the purchase on behalf of Urban Logistics REIT. The property occupiers arguably one of the best positions in Nottingham for employment, being highly prominent with excellent connectivity and labour supply.
“Through our market knowledge and intelligence we were able to successfully bring together the two parties to conclude the sale. It was a pleasure to work with both Urban Logistics REIT and Accrue Capital to achieve a successful result for all parties involved.”