Buyer secured for prime warehouse space in Telford

A 73,000 sq ft warehouse in Shropshire has been sold for an undisclosed sum.

The deal for Premier House in Telford follows incumbent tenant AMCO Services International signing a new five-year lease in January, maintaining the company’s presence at the business park until 2021.

Premier House is made up of three distinct warehouse areas and also includes toilet and canteen facilities, two-storey offices and accommodation providing a reception and other offices.

The sale, to an unnamed buyer, was by Lambert Smith Hampton (LSH) capital markets team at a net initial yield of 9.69%.

Freight management company AMCO has been at Premier House since 2011, and the warehouse is one of five UK locations for the business.

Paul Andrews, managing director of AMCO Services, said: “Premier House is a key geographical facility supporting the ongoing requirements of the business.”

Matt Tilt, head of industrial and logistics at LSH’s Birmingham office, added: “Industrial property in this area is at a premium and the market here remains strong, so we’re confident Premier House will prove a sound investment for its new owner.”

Other occupiers at Hortonwood Industrial Estate include BAE Systems, Heinz and the Telford International Railfreight Park.