Two West Mids warehouses sold as part of £18.6m deal

Warehouse REIT, the AIM-listed company that invests in e-commerce urban and last-mile industrial warehouse assets, has bought two West Midlands sites as part of an £18.6m deal.

The company has swooped for the 48,000 sq ft Stonebridge Cross in Droitwich Spa and Valley Point, a 39,000 sq ft unit on Swift Valley Point in Rugby.

Warehouse REIT has also bought two properties in Warrington.

Andrew Bird, managing director of the investment advisor, Tilstone Partners, said: “We are pleased with this latest addition to the company’s portfolio, which represents an increasingly rare opportunity to acquire a strategic portfolio of assets, in tactical last mile distribution locations, capable of serving the growing e-commerce demand benefiting from ease of access to major UK conurbations in the North West and West Midlands regions. Furthermore, a number of lease events offer the opportunity to increase the longevity and quality of income over the short and medium term.”