£6.5m deal sealed at Lichfield business park
A 72,000 sq ft office and warehouse premises have been acquired in a £6.5m deal.
The undisclosed buyer has purchased Zytek House on Fradley Park, near Lichfield, a building set on seven acres, with a passing rental of £650,000 per annum from current tenants.
Commercial agency Siddall Jones acted on behalf of the vendor.
Ryan Lynch, director at Siddall Jones said: “Zytek House is an impressive headquarters premises, which was built by our client in 2011. Its location on Fradley Park is considered to be at the heart of the country’s transport network and well-established as a first-class location for distribution and warehousing.
“We were delighted to be instructed on the disposal, and with the help of Andrew Watts at the Wilkes Partnership we were able to secure a swift completion.
“Fradley Park has become a prime logistics location adjacent to the A38 which provides excellent access to the wider Midlands and the national motorway network, making it within 4.5 hours HGV drive time of 85% of the UK.”
The private purchaser’s lawyers on the deal were in-house, and they received commercial property advice from Oliver Forster of CBRE.