A Midlands property company has sealed a seven-figure deal to acquire a manufacturing and distribution facility in Northampton.
Deeley Group has acquired the freehold of a 13,145 square foot industrial warehouse on Lodge Farm Industrial Estate in a deal worth £1.65 million.
Unit 1 Barn Way will be retained in the company’s growing property investment portfolio and has been purchased from Oheka Services Ltd.
The property is occupied by specialist moulding company Burnetts Manufacturing Limited – which provides solutions for rubber, plastic and silicone components. The business has a 15-year lease on the site until 2037.
Eleanor Deeley, joint managing director of the Deeley Group, said: “This deal presented a great opportunity to enhance our commercial property stock and to continue to invest in our core locations across the Midlands.
“The deal was completed in just two weeks which demonstrates our agility and fluidity as a business to take these opportunities, and we would like to thank the other parties involved for supporting what was a very smooth process.
“Lodge Farm Industrial Estate is fully-let and that speaks to its already great location and boasts fantastic transport links, and these credentials will only be further strengthened by forthcoming infrastructure work nearby.
“This a great addition to our investment portfolio and we are pleased to be further expanding our footprint in Northamptonshire.”
Lodge Farm Industrial Estate is adjacent the to A428 Harlestone Road and benefits from excellent transport links to the A45 and M1.
Tom Bromwich, partner at commercial property specialists Bromwich Hardy, acted for Deeley Group on the acquisition.
He said: “We were delighted to be able to complete this acquisition so swiftly for our partners at the Deeley Group. This is an excellent investment for the group, sitting in a superb location and with an excellent tenant. Its potential for the future – particularly in light of the planned infrastructure work – make this an outstanding deal in every respect.”
Cherry Elliott and Darrell Aldridge, of Higgs LLP, completed the legals on the deal. TDB Real Estate acted on behalf of the vendor.