Commercial law firm Kuits has advised warehouse syndication specialist Fitzjohns Capital Partners on the sale of a warehouse in Huntington.
The 22,000 sq ft warehouse, which forms part of Stukeley Meadows Industrial Estate, has been acquired by West Norfolk Tomatoes Limited. The site is wholly let to Benchmark Services Limited until 2031.
Kuits Associate Charlotte Barker led on the sale of the site, having also acted on its purchase in July 2021. Chris Robinson and Dan Tiernan from JLL acted as agents on the deal.
Charlotte said: “The market for commercial property of this type is currently extremely strong and we were pleased to deliver the sale at a speed which allowed the client to exit at the right time for them. For a property that was vacant less than 12 months ago, it’s great that the site now has a tenant for the next nine years and will continue to flourish under its new ownership.”
Fitzjohns Capital director Eli Pine said “We are pleased that the exit of this property, which we acquired vacant, has resulted in a 50% return on equity for investors in less than a year. We are grateful to Kuits and particularly Charlotte Barker for their excellent legal guidance.”
