Telereal Trillium extends investment portfolio with acquisition of Unit 40 Crowther, Washington
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.
Notes to Editors:
1. For an aerial image of Unit 40: http://www.telerealtrillium.com/cms/cms_files/washington_-_unit_40.jpg
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About Telereal Trillium
We are experts in managing large, complex property portfolios and ensuring that accommodation supports transformational business change.
Operating in three distinct, yet complementary business areas – property partnerships, investments and developments – over the last decade we have established a UK-wide estate of more than 8,000 buildings.
We have long-term property partnerships with some of the UK’s largest occupiers, including BT, the Department for Work and Pensions and DVLA. Today, Telereal Trillium is one of the UK’s largest property companies, owning and managing an 8 million sq m, £5.5 billion estate, and housing 1% of the UK’s workforce.