News Archive

£7.85 million industrial investment sold at Trentham Lakes

Stoke-on-Trent Regeneration Ltd, the joint venture vehicle formed by St Modwen Properties PLC and Stoke-on-Trent City Council, has sold another industrial property investment on its 400-acre Trentham Lakes mixed use scheme in Stoke-on-Trent.

Morston Assets Ltd has agreed to acquire a ground leasehold interest in H W Plastics Ltd’s 16,536 sq m (178,000 sq ft) distribution centre for £7.85 million, which represents an initial yield of 8.45%. Contracts have been exchanged and will be completed later in the year.

The sale marks a further stage in the gathering pace of development at Trentham Lakes. It follows completion of deals on Firmin Coates’ 5,017 sq m (54,400 sq ft) distribution building and Remploy’s 6,114 sq m (65,812 sq ft) factory complex. It is itself being followed by Pets At Home’s 14,121 sq m (152,000 sq ft) distribution centre and the development of a 29,496 sq m

(317,500 sq ft) distribution centre for Screwfix Direct.

Mike Herbert of St Modwen, said: ” Trentham Lakes is attracting both occupiers and institutional investors because of its strategic location alongside the A50 linking the M6 and M1.”

For further information contact Mike Herbert of St Modwen (01782-281844).

Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771)