Telford warehouse sold in £32.5m deal
Investment trust Corum has disposed of a manufacturing facility in Hortonwood, a stone’s throw away from Telford International Rail Freight Park.
The 387,000 sq ft premises are let to Epwin Group, which manufactures windows, doors and fascia systems, with 13.5-years left on the building’s lease.
Corum XL acquired the 19.4-acre site on Hortonwood 37 in a £28m sale and leaseback deal with Epwin in 2019. The building was formerly part of the Ministry of Defence portfolio at MOD Donnington, and was heavily refurbished by Epwin in 2019.
Birmingham-based MK2 Real Estate advised Corum XL on the sale, which was made to an undisclosed buyer.
“Corum acquired this asset in 2019 in a sale and leaseback from Epwin, with MK2 advising Corum,” said Mark Johnson, co-founder of MK2 and director in the firm’s investment team.
“It was great to re-engage with the Corum team and bring the asset to the market, attracting good interest and achieving the asking price.”
Cushman & Wakefield advised the purchaser.
