Leading Midlands law firm Wright Hassall has competed two multi-million-pound commercial property deals within a week of each other.
Anna Power, Senior Associate in Wright Hassall’s Commercial Real Estate Team acted for a private, property investment company in securing the acquisition of two properties, each for around £3.1 million.
The first acquisition was of four industrial units covering 119,000 sq ft at Bridge Road in Brompton on Swale, Catterick, from the existing tenant, who has taken a 15-year lease back of the units as part of the deal.
The second deal was the acquisition of the recently refurbished and extended 53,000 sq ft industrial property on the Altham Industrial Estate in Accrington. The existing tenant will remain in occupation, having signed a 15-year lease less than a year ago.
Anna said: “I was delighted to work with this client on securing these two properties. Commercial property deals are often a good indicator of the market. These two deals underline the confidence investors still have, particularly in the industrial and logistics sectors, with good long-term yields, and their resilience in the current economic climate. We also have a number of other deals in the pipeline for this client.”
Wright Hassall worked alongside the client’s property agent, Tom Bromwich, from Bromwich Hardy, on closing the deals.