Northern Trust has completed the acquisition of a 31,000 square foot industrial estate in Tamworth, with the support of law firm Shakespeare Martineau.
The Tame Valley Industrial Estate comprises of six fully occupied units and brings Northern Trust’s Midlands portfolio to more than 1.3 million square feet, across 31 sites.
The acquisition forms part of the property investors’ ongoing strategy to acquire and develop multi-let industrial assets to support the SME business community, with the entire portfolio supporting more than 20,000 jobs across the UK.
Midlands firm Shakespeare Martineau supported on the deal by providing full due diligence on the estate, legal support for funding and all legal aspects of the site purchase.
Samantha Vaughan, associate at Shakespeare Martineau who led the deal, said: “We have a long standing relationship with Northern Trust, and as well as acquisitions we support lettings across estates in the Midlands.
“Property remains a solid investment and we’re seeing a lot of activity in this market. It’s also great to see investments in the West Midlands continue to grow as it remains a key site for light industrial, manufacturing and employment.”
Director Tom Parkinson said: "We have been expanding our industrial portfolio through new acquisitions and developments; and this latest acquisition offers good quality industrial space which will complement our existing estates in the Midlands.”
The Tamworth site follows recent acquisitions in Scotland and the North East.
Shakespeare Martineau team also included partner James Gooch.