25 June 2019
Telereal Trillium announces that it has completed the sale of Koito’s manufacturing HQ in Droitwich Spa to Atlantic Leaf Properties Limited for £11.89m.
The sale capitalises on the improvements Telereal Trillium has made to the asset including securing a long-term renewal with Koito Europe Limited, a leading global manufacturer and supplier of automotive lighting systems.
Located 3 miles from Junction 5 of the M5, the purpose built manufacturing facility occupies 9.08 acres on the Hampton Lovett Industrial Estate. The premises are located next to Koito’s distribution unit and function as its UK manufacturing headquarters.
The purchaser, Atlantic Leaf Properties, is a Jersey incorporated UK REIT with a portfolio comprising 59 industrial and office properties with a total value of £380m.
Paul Munday, Head of Investment Acquisitions at Telereal Trillium said:
“Since acquiring this asset, we have worked closely with Koito to secure their long-term future at these premises. Having successfully completed our asset management plan, it was the right time for us to sell the investment. We are pleased to deal with Atlantic Leaf Properties on the sale of the property and our focus is now continuing to look for other strategic investment opportunities across the UK where there is potential to add similar value through active asset management.”
ADS Real Estate advised the purchasers, whilst Allsop LLP advised Telereal Trillium.