Market Leads & Opportunities
£26m deal at Tungsten scheme
Industrial and warehouse developer Tungsten Properties has sold a number of units at a scheme in Witney, Oxfordshire.Units one to four at Downs Road have been acquired by Ropemaker Properties, part of BP Pension Fund, in an off-market transaction for £26m.The properties total 195,000 sq ft and form part of the first phase of the seven-warehouse project. Units two, three and four are fully let to Meech International, a manufacturers of static control, web cleaning and compressed air technology.Phase two is subject to a planning application which has been submitted to West Oxfordshire District Council and will comprise 169,000 sq ft.Franck-Steier Price acted on behalf Tungsten Properties and Griffiths Eccles acted for Ropemaker Properties. Carter Jonas and VSL acted on behalf of Tungsten Properties for the lettings.
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