CBRE has sold Granite, a 212,500 sq ft industrial unit in Stone, Staffordshire, for £4.5 million.
Staffordshire-based logistics company Connextions Logistics has acquired the freehold from Nationwide Bank.
CBRE advised Nationwide on the sale.
Granite, located on Jasper Way, Stone Business Park, comprises a 203,120 sq ft warehouse, ground and first floor offices, and a service yard and gatehouse.
The property was previously used as Royal Doulton/Wedgwood’s global distribution centre until it vacated the premises in 2010. The building has remained empty since.
Melissa Wase-Rogers, associate director in the industrial agency team at CBRE in Birmingham, said: “We are seeing an increase in the level of demand and take-up of commercial property in the industrial and logistics sector. However, the availability of large, good quality available units in the Midlands is rapidly being eroded.
“Recent deals have taken large chunks of space out of the market, leaving only a handful of properties that are ready for occupation, particularly in the 50,000 sq ft – 200,000 sq ft bracket.”
At the end of 2013, CBRE completed four deals totaling more than 180,000 sq ft, including Tyre Trader and Tesla UK’s acquisition of 20,000 sq ft and 40,000 sq ft respectively in units A and B at Forge Lane, Minworth; the 63,000 sq ft letting to CEVA Logistics at Link 63 in Bardon, Leicestershire, and Wulfrun Specialised Fasteners Limited’s acquisition of 60,212 sq ft at Antar 3 in Wolverhampton.
