Large warehouse on Fradley Park sold for £6.5m
Leading Midlands commercial agency Siddall Jones has sealed a £6.5 million deal to sell a large warehouse and office premises in Staffordshire.
The purchase of Zytek House on Fradley Park, near Lichfield, has been agreed between private partners.
Ryan Lynch, a director at Siddall Jones, explained that the building extends to 72,000 sq ft on a site area of seven acres, with a passing rental of £650,000 per annum from current tenants.
Mr Lynch said: “Zytek House is an impressive headquarters premises, which was built by our client in 2011.
“It’s location on Fradley Park is considered to be at the heart of the country’s transport network and well-established as a first-class location for distribution and warehousing.
“We were delighted to be instructed on the disposal, and with the help of Andrew Watts at the Wilkes Partnership we were able to secure a swift completion.
“Fradley Park has become a prime logistics location adjacent to the A38 which provides excellent access to the wider Midlands and the national motorway network, making it within 4.5 hours HGV drive time of 85 per cent of the UK.”
The private purchaser’s lawyers on the deal were in-house, and they received commercial property advice from Oliver Forster of CBRE.
Siddall Jones acted on behalf of the private vendor who received further advice from Andrew Watts of the real estate team at the Wilkes Partnership.
