The EPISO 4 opportunity fund advised by Tristan Capital Partners and Canmoor have acquired a 440,000ft² mixed-use logistics/office business estate in Leamington Spa from Wolseley UK for €38.7m (£34m). The property is located 27 miles to the southeast of Birmingham, in the area known as the ‘Golden Triangle’; the UK’s prime region for logistics and out-of-town office location. The estate currently comprises two well-specified distribution warehouses of 218,000ft² and 157,000ft², a modern office of 65,000ft² and a 3.15-acre parcel of land. The partnership will refurbish the existing accommodation whilst developing new warehouse space on the land. Canmoor has been appointed as the development manager for the project.
Nicho Jenkins, Managing Director at Tristan Capital Partners, said: “The acquisition of this exciting campus gives the Fund an opportunity to deliver prime logistics space and Grade A office accommodation into strong occupational markets underpinned by favourable supply and demand dynamics. We’re looking forward to working with Canmoor to deliver a project in which we have high conviction.”
Tom White, Principle at Canmoor, said: “We are delighted to be working with Tristan on this exceptional opportunity. The property offers a collection of high quality, vacant buildings which we plan to upgrade and extend immediately. There is a limited supply of competing stock, and accordingly, the property is already receiving significant interest from occupiers.”
