UK-focused REIT Schroder Real Estate Investment Trust, has exchanged unconditional contracts to acquire an industrial estate in Chippenham for £19.25 million. Completion is due to take place on 18 December 2020.
Langley Park, located close to Chippenham’s railway station and four miles south of junction 17 of the M4 motorway, comprises approximately 400,000 sq ft of warehouse and ancillary office accommodation on a 28 acre site. Langley Park is let to five tenants producing a total net rent of £1.68 million per annum.
The largest tenant is Siemens Mobility Limited, which employs approximately 800 people at the site. Langley Park is the global headquarters for Siemens Mobility which has occupied the site for more than 85 years as a facility for manufacturing and servicing rail technology and traffic systems.
Other tenants include a UK subsidiary of Littlefuse Inc., a global manufacturer of power systems for the transport industry, Schneider Electric Limited and NHS Property Services Limited.