Major Telford Investment Acquired

Andrew Dixon & Company reports the acquisition of a modern well-let warehouse building on Stafford Park 12, which extends to approximately 28,500 square feet.  The high bay warehouse, occupied by a respected logistics operator, was the subject of an off-the-market transaction for a local investor family.

The building is let for a further seven years without breaks at a rent of £90,000 per annum, and was acquired for a yield of around 9%.

Nicholas Dixon, who handled the transaction, commented "We acted for the former landlord for over twenty years, having let the property a number of times, and when he suggested he was of a mind to sell, we quickly moved to acquire the freehold subject to the long occupational lease, adding it to a sizeable managed portfolio of similar assets in Telford".


Significant Letting on Stafford Park

Andrew Dixon & Copmany announces the significant letting of commercial premises, including a warehouse of 20,000 square feet, a yard and 5,000 square feet of office accommodation, on Stafford Park 18 to vehicle recovery specialist Hough Green Limited of Widnes, Cheshire.  The complex proved ideal for the company, who were looking to relocate their vehicle recovery operation in Telford, and significant investment has been made in the property.

Nicholas Dixon, who handled the transaction, stated "We quickly identified Hough Green Limited to take on this facility, which was to be vacated by an existing tenant with a short lease.  The premises is ideal and a surrender of the exisitng lease and the terms of the new lease were all agreed and the new tenant in situ within three weeks of their initial viewing".


Lease Completed on Peter Grant Papers, Stafford Park

Andrew Dixon & Company reports the completion of a lease of the former Peter Grant Papers Limited premises on Stafford Park 12.  The main building, which comprises integral two-storey offices and warehousing extending to approximately 45,000 square feet, has been let to Preston Innovations, who are relocating from elsewhere on Stafford Park.  The US company manufactures and distributes fishing equipment, and the accommodation will undergo a full refurbishment.  The property forms part of a larger complex, with a detached building to the rear in separate ownership extending to a further 26,000 square feet.  This has also been let to Preston Innovations on a co-terminus lease.

Nicholas Dixon, who handled the transaction, commented "This large facility was vacated only a few months ago, with two adjoining properties that we are also instructed to dispose of, and we quickly identified a local company with a need for the excellent accommodation the property provides.  We are pleased to assist another foreign investor on behalf of multiple landlords to significantly extend its' Telford operations.  Both landlords are delighted that we were able to quickly put the buildings under offer, and we are expecting further announcements on the adjoining former Peter Gran Papers premises in the coming weeks".


Major Lettings at Hall Court, Telford Town Centre

Andrew Dixon & Copany is pleased to report several major lettings at Hall Court in Telford town centre.  Carillion Plc have taken a suite of approximately 3,000 square feet and Halo Mobile have extended their existing demise to around 3,000 square feet in recently completed transactions.

The office development, which extends to approximately 50,000 square feet, now has only circa 2,900 square feet of available space with several interested parties gearing up to take space and bring the development up to full capacity.

Nicholas Dixon, who manages Hall Court, commented "The office market has improved immeasurably over the last twelve months, and a scramble for space is now developing for well-located office suites of up to 5,000 square feet.  We have had a flurry of new instructions in the last few weeks, and we shall be hoping to announce some further significant deals as the summer progresses".


Telford Office Building Fully Occupied

Andrew Dixon & Company is pleased to announce that Grosvenor House on Central Park - Telford's most prestigious multi-let office building of 65,000 square feet and consisting of 45 individual suites - is now fully occupied, with a waiting list for any future availability.

A combination of existing tenants taking additional space and new tenants moving into the building has led to further investment by the local landlord to extend the car parking facilities to some 360 spaces, secured for the exclusive use of the building.


Letting of Substantial Warehouse Facility in Telford

Andrew Dixon & Company reports the completion of a new lease on Unit D, Stafford Park 7.  The detached warehouse unit extending to approximately 51,000 square feet was let to neighbouring occupier, Arconic Fastening Systems & Rings, a US company that is expanding its' manufacturing base in Telford.  The property will undergo a full programme of refurbishment providing both extensive offices and high bay warehousing with production facilities.

Nicholas Dixon, who handled the transaction, commented "This expansion facility for an existing Telford manufacturer is a further support to the town's industrial base, which is seeing a tightening of availability in the marketplace".


Freehold Sale of Production Warehouse at Stafford Park

Andrew Dixon & Company reports the freehold sale of Unit C, Stafford Park 12, Telford - a production warehouse unit extending to 24,617 square feet on a site area of 1.1 acres.  The freehold unit, which was offered for sale with vacant possession, was acquired by a local investor who intends to refurbish the property and re-offer it to the market to let upon completion of the works.

Nicholas Dixon, who handled the transaction, commented "A great deal of interest was generated in this property, which provides the opportunity on refurbishment to secure a good quality tenant in a well-specified production warehouse with two-storey offices and a large surfaced yard.  From receiving instructions to sell to completing the sale took barely four months".