Auto component manufacturing company TRW is selling its 56,925 sq m (612,750 sq ft) manufacturing plant in Newcastle-under-Lyme, Staffordshire, as an investment.
The company is looking for offers in excess of £7m, reflecting a high initial yield of 19%. Leoni Wiring Systems currently lets the building at a rent of £1.37m pa.
The site extends to 14.7ha (36.5 acres) and offers development potential. Robert Lewin, of sole agent Colliers Conrad Ritblat Erdman, said: “TRW is selling to release the scheme’s capital. We’ve had around 150 agent-led enquiries from investors and developers. We should get the deal sorted by December.”
EGi News 03/10/00
