Valad Europe, the leading diversified real estate investment manager, has sold a 200,000 ft² (approx. 18,600 m² ) distribution warehouse unit in Worcester to the occupier, Wolseley UK Limited. The asset was held in Valad’s V+ UK fund.
The unit is located on a 10.5 acre site north of Worcester City Centre in Berkeley Business Park, an established distribution park close to junction 6 of the M5.
Rob Howe, Head of UK Real Estate for Valad Europe, commented: “In today’s commercial real estate environment, the ability to sell assets at the right time is equally as important as being able to acquire assets at a good yield. In this situation, through close liaison with the tenant, who has been a long term occupier at the Park, we were able to identify a change in Wolseley’s policy towards owner occupancy and, rather than risk losing an occupier, we agreed a deal that suited both parties.”
Dowley Turner acted for Valad Europe and Cushman & Wakefield acted for Wolseley.