Commercial property developer and investor Barberry has announced its latest acquisition of a West Midlands warehouse development site – the third completed since the start of the year.
Barberry has acquired the last remaining plot at the highly sought-after Tournament Fields Business Park in Warwick. The company plans to deliver a c:80,000 sq ft Grade A ‘best in class’ distribution and logistics unit on the site after acquiring the land for an undisclosed sum.
Barberry – one of the UK’s leading developers of mid-box industrial units – simultaneously exchanged and completed the purchase within 10 working days of instructing solicitors, according to development director Jon Robinson.
“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 demonstrates 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 in order to expand their operations within the Midlands, delivering new jobs and attracting investment,” said Jon.
This highly visible and accessible site has the perfect combination of immediate motorway access of Junction 15 of the M40, providing a logistically superb location coupled with the prominence suitable for a HQ-style operator or customer facing business. The building will focus on sustainability and will be built to exceptional ESG standards, targeting EPC A and BREEAM Excellent accreditation including electric vehicle charging points, solar panels, green initiatives, and staff welfare.
Barberry can offer freehold or leasehold options to occupiers. The company anticipates significant interest from a market starved of high quality, mid-box warehouse and production facilities on the M40 and M42 corridors. It is a unique opportunity to join a number of international businesses who have made Tournament Fields their home, including Scholastic Publications, Gallagher Security, Semcon, Sodick and most recently, Hansgrohe, who took occupation of their 36,000 sq ft facility in the spring of 2023.
The site was bought for an undisclosed sum from Sackville Developments (Warwick) Ltd, a fully owned subsidiary of Clowes Developments (UK) Ltd.
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.
Barberry has started 2024 with exciting plans to develop two other high quality warehouse units in the West Midlands, demonstrating its commitment to investment in the region.
Earlier this month (March) Barberry unveiled plans for a £14 million warehouse development after acquiring a high-quality site in an off-market deal for an undisclosed sum. It plans to deliver a 70,000 sq ft Grade A distribution and logistics unit on the site at Quinton Business Park, Ridgeway, Birmingham.
Meanwhile, in January Barberry revealed plans to develop an advanced manufacturing unit with a value of £10.4 million at Ansty, Coventry, at one of the region’s leading business parks. The company will deliver a 50,750 sq ft industrial unit at Ansty Park after completing the acquisition of the Viggen Way site from Homes England.
Barberry has a 2.4 million sq ft industrial/logistics development pipeline with a Gross Development Value of more than £395 million. The company has 500 acres of strategic residential and employment development land across 12 sites under its control and a growing income producing commercial and residential portfolio.
