Sandyford Properties has acquired an industrial estate in Cannock from a private investor for more than £7m.
The multi-let estate, which comprises Hollies Business Park and Hollies Court, extends to 75,890 sq ft across 20 industrial units, four self-contained offices, a retail unit and an open storage plot.
The estate sites on a 5.66-acre site and is fully let to 13 occupiers spanning manufacturing, engineering, construction, infrastructure and service businesses at an average rent of £6.24/sq ft.
It is located close to Cannock town centre, Cannock railway station and key motorway connections including the M6 Toll and M6.
Paul Brindley, managing director of Sandyford Properties, said: “Hollies Business Park is exactly the type of asset we are looking to acquire. It is a purpose-built estate with a strong occupier base, modern accommodation and clear opportunities to create additional value through active asset management. Cannock is a core target location for us and an area where we are looking to grow over the coming years.
“The estate sits in one of the town’s established commercial locations, but its proximity to the town centre, railway station and major road links means it appeals to a broad range of occupiers beyond traditional industrial users. We have been tracking this opportunity for more than a year and know the estate well. It complements our existing portfolio and represents another important step in our strategy to grow Sandyford’s presence across the Midlands.”
Sandyford was originally introduced to the opportunity by The Acquisition Group. Savills advised Sandyford on the acquisition and Hill Dickinson provided legal advice. CBRE acted for the private investor vendor.
