Property consultancy Knight Frank has sold a new industrial building on Albion Gateway in Burton-on-Trent for £2.65 million.
Acting on behalf of vendor St Modwen Developments it sold the newly-constructed warehouse and trade counter unit in Derby Road on a 999 year leasehold at a peppercorn rent to the Canal & River Trust, which was represented in the transaction by CBRE.
The 10,000 sq ft unit has a mezzanine area of a further 3,200 sq ft and is fully pre-let to MKM Building Supplies Ltd – the independent builders’ merchant – on a 20 year lease at an initial rent of £140,000 per annum.
Albion Gateway is a new development by St Modwen Developments Limited, comprising a mix of trade counter, retail and industrial warehouse units. Existing occupiers on the 10 acre site include Toolstation, A-Plant and Pirelli. The development is less than one mile from the A38 trunk road and two miles from Burton-upon-Trent town centre, with close proximity to the A38, A50 and A511.