INVESTMENT COMPANY Deeley Group has completed a seven-figure deal to acquire a manufacturing and distribution facility in Northampton.
The business has acquired the freehold of a 13,145 sq ft industrial warehouse on Lodge Farm Industrial Estate in a deal worth £1.65 million from Oheka Services Ltd.
The property is occupied by specialist moulding company Burnetts Manufacturing Ltd, which provides solutions for rubber, plastic and silicone components. The business has a 15-year lease on the site until 2037.
Deeley Group’s joint managing director Eleanor Deeley said: “This deal presented a great opportunity to enhance our commercial property stock and to continue to invest in our core locations across the Midlands.
“The deal was completed in just two weeks which demonstrates our agility and fluidity as a business to take these opportunities and we would like to thank the other parties involved for supporting what was a very smooth process.”
Lodge Farm Industrial Estate is fully let, which speaks to its location and transport links, she added. “This is a great addition to our investment portfolio and we are pleased to be further expanding our footprint in Northamptonshire.”
Tom Bromwich, partner at commercial property specialists Bromwich Hardy, acted for Deeley Group on the acquisition. “This is an excellent investment for the group, sitting in a superb location and with an excellent tenant,” he said. “Its potential for the future – particularly in light of the planned infrastructure work – make this an outstanding deal in every respect.”
Cherry Elliott and Darrell Aldridge, of Higgs LLP, completed the legals on the deal. TDB Real Estate acted on behalf of the vendor.
