Wednesday, October 28, 2020
Real EstateUK

Autosmart buys Staffordshire site for £5m

Staffordshire

The company specialises in the manufacture and delivery of vehicle cleaning products

A former automotive site in Staffordshire has been sold to a vehicle cleaning product company for more than £5 million.

The freehold of the 60,000 sq ft Unit 9 Attwood Road, on Burntwood Business Park, was placed on the market at the end of 2019 and has now been acquired by Autosmart International.

The company specialises in the manufacture and delivery of vehicle cleaning products across a number of sectors.

It has purchased the building to aid its expansion and increase its manufacturing capacity and, once fitted out, the facility will operate in conjunction with its existing sites in Shenstone and Norton Canes.

Managing director Sophie Atkinson said: We were extremely pleased to have won the sealed bid to buy Attwood Road. We like the Burntwood area, we bought a similar site nearby five years ago, and we have found the local community welcoming and a good source for local staff.

Our franchisees’ sales growth into the UK and northern Europe has meant that we needed more manufacturing capacity and we are planning to manufacture our detergent range at this site, Atkinson said.

Commercial property agency Harris Lamb was instructed to find a buyer by previous owner Charter Automotive which supplies engineered components to the automotive industry.

Harris Lamb director Andrew Groves, who oversaw the deal, said: We placed the property on the market last year at a guide price of £4.9 million, confident there would be a high number of enquiries. Further to receiving strong levels of interest, we invited best and final offers.

It was a pleasure to work with both Charter Automotive and Autosmart International on this transaction, he  said.

There are very few modern freehold buildings currently available and the 1.8 acres of expansion land made this facility a very attractive and flexible building for future occupiers.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
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