Eldon Way

East Midlands industrial unit sold for £3.2m

A well-connected industrial unit in Northamptonshire has been sold for £3.2 million.

Warwickshire-based The Wigley Group has sold Unit 1-7 Crick Industrial Estate, Eldon Way, to a London-based real estate investment firm.

The Wigley Group, which owns and manages business and commercial property across the Midlands, initially purchased the site with vacant possession in 2017 for £1.8m and has carried out a series of improvement works at the premises since.

Most recently, it has equipped the site with a new kitchenette, new offices, refurbished toilets, and carried out extensive maintenance works for logistics specialist Nu Vision Logistics, who have just moved in on a 10-year lease to facilitate their long-term business plan.

Set within a three-acre site, the 42,000 sq ft unit is located in the heart of the UK’s distribution network adjacent to J18 of the M1 at Crick, providing easy access to Northampton, Rugby and the wider West Midlands.

James Davies, Chief Executive Officer at The Wigley Group, said: “During the six years this unit has been part of our portfolio, we have carried out a series of improvement works, driven rental value, and secured a new tenant who sees their long-term future of the business at Crick Industrial Estate.

“With our property portfolio evolving and a series of construction and redevelopment projects due to begin shortly, it’s an exciting time for all of us at The Wigley Group and we are delighted to complete this latest deal, which is a reflection of our positive management of the site.”

The Wigley Group was represented by Nick Howe of Edgerley Simpson Howe LLP, while the Purchaser was represented by Ben Wisher of CBRE.

James Polo-Richards of J G Poole & Co LLP supported The Wigley Group on the legals.

Established in 1964 and based at Stockton House in Southam, The Wigley Group is an ISO 45001, 9001 and 14001 certificated company active in real estate investment, development and construction, as well as asset management of portfolios for both itself and commercial partners.