A leading investor in UK urban logistics has completed the acquisition of all the trade and employment units at a mixed-use development at Teal Park in Nottingham.
Northwood Urban Logistics has purchased the third and final phase from joint-developers Warwickshire-based AC Lloyd Commercial (ACL) and Nottingham-based Henry Davidson Developments (HDD).
Selling the six large employment units totalling 116,835 sq ft is the final part of the deal, meaning the specialist investor in UK logistics sites now owns the entire park with the exception of Storage Giant.
Northwood Urban Logistics had already acquired phase one and two of the 56,511 sq ft trade park which includes Toolstation, Screwfix, Howdens, Trent Valley Windows, Trent Vehicle Charging, Karcher UK and Paintwell.
Mark Edwards, managing director at AC Lloyd Commercial, said Teal Park was proving to be a huge success for businesses from a wide range of sectors.
He said: “This was our first major development in the East Midlands and the Teal Park site has proved to be a fantastic success.
“The final piece of the jigsaw has been the legal work on selling the final phase of the employment and trade units to Northwood Urban Logistics which has been completed, and Teal Park is certainly thriving.”
Richard Croft, director at HDD, added: “The final six employment units which range from 9,606 sq ft to 31,553 sq ft are now under the ownership of Northwood Urban Logistics who will have responsibility for marketing the site. The development is a real success story for the local area, so far Teal Park has attracted a number of high-quality operators and I’m sure it will go from strength to strength.”
