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Investment News
Acting on behalf of Sandyford Properties, FHP have advised on the acquisition of Units 1-6 Chancel Way, Halesowen, comprising a 6-unit terrace of light industrial/warehouse properties at a purchase price of £3,400,000.
The asset offers opportunities for income growth through reletting and refurbishment in the medium term.
This acquisition marks a continuation of Sandyford’s strategy of investing in well built, income secure industrial assets and is Sandyford’s first acquisition within the West Midlands, complementing its core holdings in Staffordshire & Cheshire and supporting its strategy to grow its footprints across the wider Midlands and north-west.
Paul Brindley, Managing Director of Sandyford Properties said:
“Chancel Way is exactly the type of asset we looked for – well maintained, purpose built industrial space in a proven location with a strong underlying income profile and clear potential to drive future growth.
This acquisition supports our ongoing shift towards higher quality reversionary stock and further strengthens the resilience of our portfolio”.
Mark Tomlinson, Director of FHP who advised Sandyford in the acquisition commented:
“We are delighted to have sourced this opportunity for Sandyford on an off-market basis, in a market which is constrained with good quality ‘value-add’ industrial investment opportunities. We wish Sandyford success with the property going forwards and continue to seek other opportunities of this nature”.
For further information on the deal, please contact Mark Tomlinson on 07917 576 254 or mark@fhp.co.uk.