14 April 2015
Telereal Trillium has purchased Unit 40 Crowther Industrial Estate, Washington from an undisclosed party, advised by GVA Grimley.
The property, comprising 5.79 acres is located on Phoenix Road, Washington near Newcastle upon Tyne. The unit is fully let to OpSec Security Limited, a world leader in document and brand protection technology, and operates as their European Headquarters. There is a low site coverage that incorporates future expansion land and the unit is strategically located within an established industrial estate that has high levels of occupancy.
Paul Munday, Associate Director at Telereal Trillium said: “We are delighted to add this purchase to our portfolio. We are actively seeking well located, industrial units where there is a shortage of new development, creating compelling demand for existing buildings which we believe will generate strong rental growth. This property fits our profile of investing in assets where there is underlying occupational demand, an existing tenant committed to the building, and reversionary potential”.
Telereal Trillium were advised by Knight Frank.