Goold Estates, headquartered in Walsall, have made a significant acquisition with the purchase of Lakeside Plaza in Cannock.
This substantial multi-let retail/warehouse, self-storage and office investment was sold to Goold Estates post auction by Acuitus. .
The scheme, on a site of 5.1 acres, includes 61,412 sq ft of retail/warehouse accommodation with a mix of occupiers such as Silver Blades Ice Rink, Bridgtown Bikes and a children’s play centre as well as a high quality self-storage facility business. There are car parking spaces for approximately 280 cars across the site.
Dominic Goold, Managing Director of Goold Estates explained: “Our intention is to reposition the estate within the market place, invest money to upgrade the units externally and internally as well as undertaking a proactive marketing campaign to fill the voids with appropriate tenants. We were attracted by its highly visible position adjacent to the M6 Toll motorway and the A5. Anyone driving along the M6 Toll can’t fail to notice it.
We continued to expand our property portfolio, particularly during the recent difficult period. This has meant investing time and money to refurbish and upgrade or to redevelop our properties. For example, following comprehensive works at Black Country House it was fully let ahead of schedule and at our Stamp Factory scheme on Midland Road, Walsall which we purchased in December last year we now have planning permission and are out to tender with a scheme to improve the access and refurbish the units. Overall this approach has paid off as our total voids are now below 2.5%.”
Goold Estates have also taken over the running of the self-storage unit at Lakeside Plaza which will be rebranded www.chase-space.co.uk and will target businesses as well as domestic requirements for storage.