PATRIZIA have added a fourth estate to their multi-let industrial mandate. The acquisition of Wednesbury Trading Estate is an excellent fit to the portfolio, comprising Quarry Wood in Kent, Bradbury Park in Essex and Belleknowes Industrial Estate in Fife, forming a well-diversified portfolio of MLI estates.

Wednesbury Trading Estate is located in Wednesbury, 12 miles NW of Birmingham. It comprises 440,000 sq ft, has 48 units and is let to 35 tenants.  The estate has a strong occupier base, including Cotswolds, Howdens and Toolstation.

PATRIZIA and their operating partner, Caisson Investment Management, were advised by Gerald Eve and Simmons & Simmons.  TT&G and BCLP represented the vendor.

Jamie Younger, Head of Transactions UK & Ireland at PATRIZIA, commented: “We are very pleased to secure this latest acquisition which successfully completes a strategy put in place pre-lockdown.”

James Burgess, Acquisitions Manager at Caisson Investment Management, commented: “We are delighted with the latest acquisition in the PATRIZIA / Caisson programme. To acquire an off-market MLI estate in the current market is a tremendous result. The fundamentals of the estate are robust, with a diverse income profile, making it a strong addition to a well-rounded portfolio.

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