Tandem acquire Midlands industrial investment

Tandem Investments, advised by Savills, has acquired Unit 5 Crondal Road, Coventry, from Ocado for a guide price of £2.75m.

Unit 5 Crondal Road, is an industrial unit extending to 45,118 sq ft, situated on a site spanning 2.5 acres. The unit is let to Macfarlane Group UK limited on a lease expiring August 2028. The passing rent is £248,000 per annum equating to £5.50 psf.

Macfarlane Group UK Limited design, manufacture and distribute protective packaging products to business users. Operating a ‘Stock & Serve’ model from regional distribution centres a UK national network to support customers on a local, regional and national basis.

Chris Lloyd, Director at Tandem Investments, commented: “Acquiring assets in prime locations has been the focus at Tandem this year. Crondal Road’s location particularly appealed being so close to Junction 3 of the M6. Coventry is at the heart of the Golden Triangle which is so popular with distribution and logistics occupiers.”

Richard Lingen, Associate Director, Birmingham Investment at Savills, added, “Unit 5 is an excellent industrial investment with solid fundamentals and opportunities to drive future value. The property aligns well with our client’s investment ambitions, and we look forward to working with Tandem Investments going forward.”

Tandem Investments were represented by Savills. Ocado were represented by Gerald Eve.