The UK’s leading regeneration specialist, St. Modwen, has recently expanded its industrial portfolio in the Midlands with the purchase of an industrial estate in Great Wyrley, Staffordshire.
St. Modwen snapped up the four acre Landywood Enterprise Park, which is currently let to four tenants, at auction.
The acquisition takes the number of industrial estates owned and managed by the regeneration group in the Midlands to 14, including Watling Street Business Park in Cannock and the site of the former Goodyear works in Wolverhampton.
St. Modwen has a strong reputation for significantly improving the performance of its investments. Last year it sold Parkside Industrial Estate in Wolverhampton, which it had owned and managed for three years. It substantially raised the value of the 97,406 sq ft site during that time by carrying out lettings, lease renewals and lease re-gears on nine out of the 11 units.
Landywood Enterprise Park is a single industrial building divided into self-contained units. Located off the A34, less than a mile from the M6 toll, and just two miles from the M6, the site is located in an established industrial area.
Julie Rossiter, senior asset manager at St. Modwen, said: “Landywood Enterprise Park is an excellent addition to our portfolio, enabling us to use our asset management skills to improve the industrial estate and let the vacant units.
“We are seeing an increase in demand from industrial occupiers across our portfolio which reflects recent reports in the national media that occupier demand in the UK industrial market rose 8% in 2014.”
A two storey office at 5,706 sq ft and a 1,460 sq ft industrial unit are currently available at Landywood Enterprise Park.
Elsewhere in the region St. Modwen owns and manages the Watling Street Business Park in Cannock, which has just one unit available.