A real estate investor has acquired the freehold interest to a 20,830 sq ft distribution warehouse in Burgess Hill, West Sussex.
Cube RE made the purchase of the site at Victoria Industrial Estate on behalf of the Hathaway Opportunity Fund (HOF) – its joint venture with NFU Mutual.
The warehouse is fully let to International Logistics Group, with the lease close to expiry.
The purchase provides an opportunity to refurbish the unit to be able to capture reversion in line with prime rents in the area, as well as the potential to develop the yard with further logistics accommodation, subject to planning.
Local occupiers include DPD, Screwfix, CAE, Boeing, Porsche and Collins Aerospace.
Nick Robinson, investment surveyor at Cube RE, said: “This acquisition represents a disciplined addition to the Hathaway Opportunity Fund and reflects our continued focus on securing well-located assets with strong underlying fundamentals.
“Burgess Hill remains a resilient and strategically important logistics location, and the property’s reversionary profile provides clear potential to enhance income performance over the short-medium term.
“We are pleased to strengthen the HOF portfolio with an asset that aligns with our long-term investment objectives.”
Cube RE was represented by Newmark. SBY advised the vendor.