Tungsten Properties, one of the leading mid-market industrial and warehouse developers in the UK, has sold a 43,000 sq ft industrial warehouse unit near Crawley to Martin’s Properties, a leading property investment and development company based in Central London and operating throughout the South of England, for £6.5 million.
The acquisition marks Martin’s Properties’ first industrial warehouse as it continues to diversify its £375 million property portfolio.
The sale is for the development site and forward funding of a 43,000 sq ft industrial warehouse unit located at the former Wyevale Garden Centre at Tungsten Park Handcross. The development totals 83,000 sq ft and is located on London Road, seven miles south of Crawley on the A23 between London and Brighton.
The scheme, to be known as Link 23, is the final terrace of units which will be alongside a previous pre-sale of a separate unit to Pets Corner for its UK distribution centre. Link 23 can be split into three units and is due for completion in August 2019.