Cannock industrial estate snapped up for £7m
Sandyford Properties has acquired the multi-let Hollies Business Park and Hollies Court in Staffordshire, part of a continued West Midlands growth push.
The estate, previously held by an unnamed private investor, extends to 75,900 sq ft across 20 industrial units, four self-contained offices, a retail unit and an open storage plot on a 5.7-acre site.
The £7m park, which is on the fringes of Cannock town centre, is fully let to 13 occupiers across manufacturing, engineering, construction, infrastructure and service businesses.
Sandyford identified the opportunity more than a year ago and was first introduced to it by The Acquisition Group, said Paul Brindley, the firm’s managing director.
“Hollies Business Park is exactly the type of asset we are looking to acquire. It is a purpose-built estate with a strong occupier base, modern accommodation and clear opportunities to create additional value through active asset management,” he said.
“Cannock is a core target location for us and an area where we are looking to grow over the coming years. The estate sits in one of the town’s established commercial locations, but its proximity to the town centre, railway station and major road links means it appeals to a broad range of occupiers beyond traditional industrial users.
“We have been tracking this opportunity for more than a year and know the estate well. It complements our existing portfolio and represents another important step in our strategy to grow Sandyford’s presence across the Midlands.”
Savills advised Sandyford on the acquisition, while Hill Dickinson provided legal advice. CBRE acted for the seller.
