Property investor acquires warehouse development site
A West Midlands commercial property developer and investor has announced its latest acquisition of a warehouse development site.
Barberry has acquired the last remaining plot at the Tournament Fields Business Park in Warwick.
The developer plans to deliver 80,000 sq ft of distribution and logistics unit on the site after acquiring the land from Sackville Developments a fully owned subsidiary of Clowes Developments for an undisclosed sum.
Development director, Jon Robinson, said: “Our acquisition of an excellent site at Tournament Fields Business Park is the latest significant investment by Barberry, and the third to be completed in the first three months of 2024. The size and speed of the deal once again demonstrate our strong financial position, ability to transact quickly and our continued commitment to the mid-box industrial/logistics sector within the region.
“The development of a best-in-class c:80,000 sq ft unit will help to address the ongoing shortage of new, high-quality industrial accommodation in the West Midlands. New buildings such as this help to create the quality accommodation that local, regional and national businesses need to expand their operations within the Midlands, delivering new jobs and attracting investment.”
Marc Freeman, development director at Clowes Developments said: “We have a long-standing relationship with Barberry so it’s good to know the last remaining plot at Tournament Fields is in safe hands. The sale brings to a close our development at the business park which has been within our portfolio for almost 30 years. The sale of this plot enables the group to focus on our extensive development programme across the UK.”
Wareing & Company and Savills have been retained by Barberry to act as leasing agents.
