Birmingham-based Graftongate has acquired its largest chunk of land yet.
Graftongate run by former ProLogis directors Colin Beasley and Phil Silk and former Savills industrial head Henry Angell-James has bought a 25-acre site in Crewe from the Duchy of Lancaster, in a joint venture with Highcross.
The jv is planning a 400,000 sq ft scheme on the Green Link Road site, which will comprise a mix of speculative and design-and-build space ranging from 10,000 sq ft to 150,000 sq ft. The site has consent for distribution and warehousing.
The buyers, advised by GVA Grimley, paid around £6.3m. Cushman & Wakefield Healey & Baker acted for the Duchy of Lancaster.
Last week, Graftongate bought a 10-acre site at Ravensback, Redditch, from Gazeley for more than £325,000 per acre. The deal was funded by Jersey-based Le Gallais. The final 12-acre plot at Ravensback has been sold to Stoford/Terrrace Hill.
References: EGi News 07/10/05
