Canal & River Trust snaps up 10,000 sq ft warehouse

The Canal & River Trust has acquired a 10,000 sq ft unit at Albion Gateway in Burton.

Knight Frank sold the property to the Trust on a 999 year leasehold at a peppercorn rent on behalf of St Modwen Developments.

The deal has been valued at £2.65 million.

The warehouse and trade counter unit also includes a mezzanine area of a further 3,200 sq ft and is fully pre-let to MKM Building Supplies Ltd – the UK’s largest independent builders’ merchant – on a 20 year lease.

The Canal & River Trust was represented by CBRE with Bevan Britain acting as its solicitor. FBC Manby Bowdler acted as solicitor for St Modwen.

Albion Gateway is a new development comprising a mix of trade counter, retail and industrial warehouse units.

Existing occupiers on the 10-acre site include Toolstation, A-Plant and Pirelli.