BARJANE, the specialist industrial and logistics real estate company, has exchanged contracts to purchase a prime 5-acre site in Rugby from an international automotive group.
Set within the established Central Park estate, home to nearby occupiers such as Sainsbury’s, Amazon, H&M, DHL and EVRi, the site is located at the heart of the Midlands ‘Golden Triangle’ immediately adjacent to Junction 1 of the M6 and 3.5 miles (4 minutes’ drive) to Junction 19 of the M1 Motorway, providing strategic connectivity to the national motorway network.
The existing 45,317 sq ft vacant office and workshop facility on the under-utilised site, which is designated as protected employment land within Rugby Borough’s Local Plan, offers a strong redevelopment opportunity, subject to planning, to provide up to 100,000 sq ft of high quality sustainable space.
Work will begin to prepare a planning application for early 2024 with the aim of identifying a prospective occupier and starting on site in the Autumn.
Patrick Batten, UK Commercial Director said:
“We are delighted to acquire this prime logistics site and demonstrate our capability in the UK market. We continue to seek new opportunities in line with our growth plan and we have high conviction despite the headwinds at present.”
The site is also situated just 27 miles from BARJANE’s ownership of retailer Decathlon’s 350,000 sq ft UK distribution centre and e-commerce operation on the Brackmills Estate, Northamptonshire.
Carter Jonas advised BARJANE and JLL advised the automotive group vendors on the transaction.