Real estate team advise on sale of major industrial estate

Willans’ real estate team has recently advised a long-standing client on the sale of Keytec 7 Industrial Estate in Pershore, Worcestershire.

The multi-let business park comprises 64 industrial units and 6 office suites, of which all but one were let at the time of sale. In total, the estate extends to 140,000 sq ft and was sold for £12,765,000, representing a value of £91 per sq.ft.

The business park was sold to Marchmont Investment Management and will form part of its recently announced ‘Space Industrial’ offering, in partnership with Invesco EMEA. The joint venture specialises in providing modern and efficient warehouse space in UK urban locations.

Willans has acted for the vendor of the industrial estate – Crown House Developments Ltd. – for over 10 years, with real estate partner Alasdair Garbutt leading on this transaction.

Speaking about the sale, Alasdair said: “Having worked closely with Crown House Developments for many years – including on a number of lettings of units on their industrial estates – we were delighted to work on this transaction and ultimately achieve the outcome they were hoping for.”

Acting for local, national and global clients, our Legal 500 and Chambers-rated real estate team has outstanding technical expertise to advise on a huge range of property transactions and non-contentious construction issues.