Gerald Eve has advised PATRIZIA and its operating partner Caisson Investment Management on the £34 million off-market acquisition of Wednesbury Trading Estate from M7 Real Estate.
Located 12 miles north west of Birmingham, Wednesbury Trading Estate comprises 440,000 sq ft of multi-let industrial space, across 48 units let to 35 tenants including Cotswolds, Howdens and Toolstation.
It becomes the fourth estate in PATRIZIA’s multi-let industrial mandate, adding to a portfolio including Quarry Wood in Aylesford, Bradbury Park in Essex and Belleknowes Industrial Estate in Fife.
M7 Real Estate sold the asset on behalf of Tristan Capital Partners’ core-plus fund, Curzon Capital Partners V Long-Life LP.
To make an off-market acquisition during a time of such heightened demand for multi-let industrial assets is a great achievement, and underlines the benefits of being able to move decisively when opportunities present themselves. Wednesbury Trading Estate provides some exciting asset management opportunities, making it an ideal addition to the £37 million Quarry Wood Industrial Estate acquisition last year, with Gerald Eve advising on both deals.
Leo Zielinski, Partner