Real estate investor swoops for logistics facility

Oxenwood Real Estate has acquired a prime logistics facility in Wolverhampton for £12.2m.

The facility, which totals 143,279 sq ft, is located on Hilton Cross Business Park at Featherstone by junction 1 of the M54 and close to junction 10a of the M6.

It has been acquired from the occupier MANN+HUMMEL, a global filtration technology company, by Oxenwood for Oxenwood Catalina, its joint venture with Catalina Holdings (Bermuda) Ltd.

The facility has been leased back to MANN+HUMMEL on a short 18-month lease. When the lease expires, Oxenwood intends repositioning the asset to take advantage of the low site cover by carrying out an extensive refurbishment to create a cross-docked distribution warehouse.

Stewart Little, co-founder of Oxenwood, said: “The purchase represents a strong value-add opportunity in a very strong West Midlands location which sits close to existing assets managed by us.

“During the short-term leaseback period, we will look to identify an occupier with whom we can work to deliver a best-in-class facility serving the Midlands and beyond.”

Oxenwood was advised by Atlas Real Estate.