Investor snaps up Telford warehouse

Harris Lamb has sold a Telford warehouse to an investor for an undisclosed sum and has been further instructed to let the building.

Acting on behalf of a private client, the business sold the 29,887 sq ft two-bay warehouse on Stafford Park 12 to Mid Wales-based Triang Developments. Which plans to refurbish and re-let the building.

James Owen, director of Triang Developments, said: “This is an important strategic acquisition for the company as we look to grow our portfolio.”

His colleague and portfolio manager James Harrison added: “This investment represents well the type of property we seeking to acquire; a good location and of a size and type where there is demand.

“We were able to move quickly to agree terms and complete the purchase and now have a programme of works underway so the property will be ready to handover to any tenant.”

Matthew Tilt, of Harris Lamb’s agency team, said: “The sale of this building to an investor shows that appetite is strong for good quality industrial units with confidence in the Telford occupational market.

“This property is well-specified and extremely well located just off junctions four and five of the M54 with prominence to the A464, making it a prime building for occupiers seeking a unit of this size and nature.

“Triang Developments secured the property off-market for an undisclosed sum and will now refurbish the building to attract a tenant. They have instructed Harris Lamb to act as letting agent for the property, and discussions are already at advanced stage with a potential occupier.”