Hortons has purchased two industrial units totalling 76,699 sq ft at Three Spires Industrial Estate in Coventry from Summit Timber Propco for an undisclosed price.
Located on Ibstock Road, near Junction 3 of the M6, both units are let on new 10-year leases to Staircraft Group, which is owned by Summit Timber Propco. Following completion of the deal, Hortons’ industrial portfolio now exceeds 5.5m sq ft.
Steve Tommy, head of property at Hortons, said: “This acquisition reflects our continued focus on high quality industrial assets. The completion of new leases underline Staircraft’s commitment to the estate, and its established position in the housebuilding supply chain supports the long-term strength of the investment.”
Atlas Real Estate acted for Hortons and Cartwright Hands represented the vendor.
