Hortons has purchased a 12.8-acre, fully-let research, development and manufacturing facility in Leamington Spa for an undisclosed price.
The campus-style development, which is located off the A425 Southam Road at Radford Semele, provides 132,569 sq ft of space spread across three buildings – a manufacturing facility, a hi-tech warehouse unit and an office building.
The site is let to UK-based engineering consultancy Ricardo on a long-term lease.
Steve Benson, chief executive of Hortons, said: “Securing this high quality, long established site represents another important step in diversifying our portfolio, both geographically and by sector. Ricardo is a long-standing and well invested occupier, and we look forward to supporting their continued presence on the estate, as well as exploring opportunities to enhance the facility further.”
James Madill, real estate partner at Gateley Legal, which alongside Atlas Real Estate advising Hortons on the deal, added: “It’s really encouraging to see the completion of this significant acquisition – the second in a short period of time – as we continue our long standing relationship with Hortons. Gateley delivered multi-disciplinary advice on a range of real estate, construction, tax and planning matters, as well as GIS support from Gateley Hamer. This acquisition was completed to an accelerated timetable and was a real team effort from all involved.”
