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Simmonds sells warehouse to US investor

Simmonds sells warehouse to US investor

Simmonds Transport’s 101,600 sq ft Telford warehouse has been sold to Californian investors for £6.1m.

The deal - the latest in a multi-billion pound wave of money buying into the safe haven of UK logistics property - sees landlords Barlows Ltd sell to Los Angeles-based Karlin Real Estate for £6.1m.

The modern 101,573 sq ft industrial unit comes with a high specification office building providing a further 28,888 sq ft of accommodation. It is at Stafford Park Telford.

Simon Wood of B8 Real Estate who acted on behalf of Barlows Ltd commented, ”International House represented a good opportunity to acquire a well specified mixed-use investment with medium term asset management opportunities.  We believe the sale further demonstrates increasing investor confidence in the regions.”

Karlin Real Estate were represented by Franck-Steier Price.

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