£30m Lichfield site acquired for 140,000 sq ft industrial scheme

Tungsten is planning to build a 140,000 sq ft mid-box scheme, after acquiring an eight-acre site in Lichfield.

The developer purchased the £30m+ site at Lichfield South Business Park, with funding from L&G Investment Management, and has submitted reserved matters plans to develop five units.

It’s been sold by Lingfield Assets, which has already delivered two phases at Lichfield South.

Founded in 2005, Tungsten Properties specialises in the UK’s mid and big-box industrial and logistics sectors. It has completed over 5.5m sq ft of industrial and logistics development on a national basis and developed more than 318 acres, in 246 units, with a net development value of over £700m.

Skylark Real Estate advised Lingfield Asset on the off-market sale, while Garrison Real Estate acted for Tungsten.

Jon Ryan-Gill, partner at Garrison RE added: “The Lichfield South site will offer a superb range of multi-let industrial (MLI) and mid-box units to the Greater Birmingham and Staffordshire area, providing occupiers with prime Grade A space, in an area chronically under supplied.”

Jon Devaney, partner, Skylark, added: “Skylark Real Estate Limited is proud to have concluded the sale of a circa eight acre industrial and logistics site at Phase 3, Lichfield South Business Park on behalf of Lingfield Assets. “We look forward to seeing how Tungsten progress its exciting, detailed proposals for five mid-box units.”