Mercia Real Estate (MRE) the Midlands focused real estate investor and asset manager, has acquired GKN’s 110-acre Hadley Castle Works in a £20m transaction.
The site comprises of 1.5m square feet of buildings in addition to approximately 35 acres of employment land providing the opportunity for in excess of 650,000 sq ft of new build industrial accommodation.
Hadley Castle Works is a significant and well-known industrial complex, half of the built accommodation is occupied by Mooveero. Located 2.5 miles north west of Telford town centre, the site has excellent access vis the A442 dual carriageway to J2 of the M54 motorway, leading to the M6 motorway.
Samuel Clark, CEO of Mercia Real Estate commented, “MRE are delighted to have acquired this strategic employment site in an established industrial location and we are committing to invest over £60 million into the site to attract new employers and provide for existing businesses looking to expand in Telford”.
Sam added “ We will be working very closely with Moveero to ensure that this site can be a home for them as they enter their next phase of growth and also working with Telford and Wrekin Council, along with the local community and its representatives to regenerate and develop the site”. Hadley Park will be the most significant new employment opportunity to be brought forward in Telford in recent memory providing a variety of modern institutional grade distribution warehousing alongside starter units for small businesses.
Mercia Real Estate was unrepresented on the transaction.