Tristan Capital Partners has bought a business estate in Leamington Spa for £34m.
It acquired the 440,000 sq ft logistics and office site from Wolseley UK.
The site is located within the “Golden Triangle” prime region for logistics. It currently includes two distribution warehouses of 218,000 sq ft and 157,000 sq ft, and a 3.15-acre parcel of land.
Tristan purchased the site through its EPISO 4 opportunity fund. Canmoor has been appointed development manager for the project. The partners will refurbish the existing buildings and develop new warehouse space on the land.
Nicho Jenkins, managing director of Tristan Capital Partners, said: “The acquisition of this exciting campus gives the Fund an opportunity to deliver prime logistics space and Grade-A office accommodation into strong occupational markets underpinned by favourable supply and demand dynamics.”
Tom White, principal at Canmoor, said: “The property offers a collection of high-quality vacant buildings which we plan to upgrade and extend immediately. There is a limited supply of competing stock, and accordingly the property is already receiving significant interest from occupiers.”
Tristan was advised by JLL and Stephenson Harwood.
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