Wolverhampton industrial estate snapped up

Four Ashes Industrial Estate in Wolverhampton has been bought in a multimillion-pound deal.

AEW UK Core Property Fund has bought the site on Station Road for £12.8m.

The 355,979 sq ft freehold industrial estate is multi-let, with the range of unit sizes allowing for occupier diversity and reduced income risk.

Michael Shears, executive director at AEW, said: “Given that take up and demand in Wolverhampton’s industrial market currently outstrips supply, we believe the acquisition of Four Ashes provides a great opportunity for the Fund and its investors. In addition to the site’s asset management potential, we believe the attractive fundamentals and diverse tenant base aligns with the strategy of the Fund, as well as reducing income risk.”

Agents acting for AEW were Cushman and Wakefield whilst Savills represented the vendor.