Phillips Sutton advise on the acquisition of 187,000 sq ft industrial unit on Alderman’s Green Industrial Estate, Coventry.

Acting on behalf of AEW UK, Phillips Sutton Associates have provided acquisition advice on the freehold interest in a 187,000 sq ft unit let to George Wilson Industries in Coventry.

The warehouse unit is the UK headquarters of George Wilson Industries who are involved in the manufacture and distribution of utility metres for the commercial and domestic markets.

The acquisition, which was transacted off market was purchased for a price of £3.5 million which reflected a net initial yield of 11.5%.

Phillips Sutton dispose of 22,043 sq ft Grade A office on Bede Island Business Park, Leicester

Acting on behalf of a charitable pension fund Phillips Sutton Associates have sold the freehold interest in a 22,043 sq ft Grade A out of town business park office building to Newtons4th Limited.

The office building which was previously let to Howes Percival and Ericsson was sold to Newtons4th Ltd who are re-locaing from Mountsorrell.

Newtons4th are a manufacturer of electronic measurement equipment and saw the office at Bede Island as a good opportunity to support the growth of their business and move to the next level.

The office sale represents one of the largest office transactions in Leicester for a number of years.

Phillips Sutton Let 4,500 Sq Ft Warehouse on Brackmills Industrial Estate, Northampton.

Acting on behalf of KCOM, Phillips Sutton have disposed of a 4,500 Sq Ft Industrial Unit on Brackmills Industrial Estate, Northampton. The unit was let to True Sleep Ltd at a rent of £4.75 psf.

Phillips Sutton let modern 28,000 sq ft warehouse building on Meridian Business Park, Leicester.

Acting on behalf of Harwood Real Estate, Phillips Sutton have successfully disposed of a 28,000 sq ft modern industrial warehouse on Meridian Business Park, Leicester.

The unit was let to a subsidiary of Thales UK, on a 10 year lease with a break at the end of the 6th year at a rent of £145,000 per annum, which reflected £5.18 psf.

This is the highest rent per square foot achieved on Meridian Business Park for a significant period of time.

Phillips Sutton acquire high profile multi let office building in Nottingham on behalf of pension fund clients.

Acting on behalf of CCLA, Phillips Sutton have advised on the acquisition of a 68,000 sq ft multi let office building on Castle Boulevard in Nottingham.

The Art Deco, Grade II listed office building is let to UPS and Gala Group, with one vacant suite. The building offers good asset management potential with genuine long term rental growth prospects.

The office was purchased from APICS for £7.95 million and a NIY of 8.68%.

Phillips Sutton successfully let 3 office suites at Charnwood Court, New Walk Leicester

Acting on behalf of private clients, Phillips Sutton have successfully disposed of over 12,000 sq ft of office space across 3 floors.

Regional Solicitors the Smith Partnership have taken 2,755 sq ft on the ground floor, having relocated from their office on York Road.

Smart Recruit UK took 1,100 sq ft also on the ground floor, adding a Leicester branch to their existing offices in Birmingham, Nottingham, Derby, Walsall and Exeter.

Cambridge and Counties bank have taken additional space within Charnwood Court to meet increased demand for their services and allow them to take on more staff.

Charnwood Court comprises an 18,000 sq ft office building over 4 floors located at the heart of New Walk, and the City’s professional quarter.

These lettings leave just 2 suites remaining on the first floor of 2,925 sq ft and 1,146 sq ft.

Phillips Sutton Associates advise on the disposal of a high yielding office and industrial investment in Leamington Spa on behalf of corporate clients.

Acting on behalf of The Cooperative Estates, Phillips Sutton have sold a 24,000 sq ft office and industrial building let to global pharmaceutical and medication delivery company Hospira UK LTD. The unit located on Queensway, Leamington Spa was let until August 2015 at a rent of £180,000.

The investment was purchased by private clients of Harris Lamb for £925,000 which reflected a NIY of 18.39%.

Phillips Sutton Associates advise Tesco on the acquisition of a former Barclays Bank in Leicester.

Acting on behalf of Tesco Stores PLC, Phillips Sutton Associates have advised on the leasehold acquisition of the former Barclays Bank premises on Clarendon Park Road.
Phillips Sutton negotiated the surrender with Barclays on behalf of the landlord and simultaneously negotiated the lease on behalf of Tesco.

The store plans to open in March 2014.

Phillips Sutton Associates advise on the acquisition of a 4 unit multi let industrial estate in Coleshill for clients.

Acting on behalf of industrial asset management specialists, M7 Real Estate, Phillips Sutton Associates have advised on the acquisition of an industrial estate on Roman Way, Coleshill. The estate comprised 27,500 sq ft in 4 units, 1 of which was let.

The estate was purchased from receivers for £825,000, with the transaction completing in just over 4 weeks.

Phillips Sutton Associates acquire a 51,000 sq ft industrial warehouse investment on behalf of clients.

Acting on behalf of regional property company, A&J Mucklow PLC, Phillips Sutton Associates have acquired the freehold interest in a 51,000 sq ft industrial unit in Ashby De La Zouch, Leicestershire. The unit let to Manfrotto Distribution on a 10 year lease, was acquired for £2.56m, representing a net initial yield of 8.5%.

Warehouse Sale, Rugby

Phillips Sutton Associates secure the freehold sale on a 66,000 sq ft warehouse in Rugby.

Acting on behalf of a pension fund, Phillips Sutton Associates have sold the freehold interest in a 66,000 sq ft industrial warehouse unit on Swift Park, Rugby. Unit C, Swift Park, Rugby was purchased by local occupier HW Coates, and completed in just under 4 weeks. The unit had been on the market for just 4 months, and had attracted significant interest from a variety of occupiers, both locally and nationally.

For further information, contact Sam Sutton on 0116216 5144

Phillips Sutton Associates have acquired a 5,000 sq ft warehouse for clients in Hull.

Acting on behalf of local occupier The Afos Group, Phillips Sutton Associates have advised on the acquisition of industrial premises for the company. The company based in Hull had outgrown their existing premises and required a more bespoke building. Having identified a suitable building, Phillips Sutton Associates negotiated a new lease at a competitive rent on a 5,000 sq ft warehouse/office building, including negotiating a schedule of condition.