A speculative industrial development which is being built in Stafford has been sold to a real estate investor.
Aver Property Limited Partnership has bought the Prime Point 14 scheme from Trebor Developments and Seddon Developments.
The site – which is close to junction 14 of the M6 – comprises a 66,628 sq ft unit and a 76,742 sq ft unit which will be constructed over the next 12 months.
Bob Tattrie, managing partner at Trebor Developments, said: "Prime Point 14, Stafford, is a prime location being only one mile from Junction 14 of the M6.
"The two mid-size units are on a very established industrial park and will meet market demands as the area suffers from little choice of quality industrial units."
Aver Property is a joint venture partnership between Ergo Real Estate and NFU Mutual.
Martin Jepson, founding partner at Ergo Real Estate, said: "Our flexible and opportunistic approach enables us to be responsive to prospects and capitalise on the growth in this area, securing our position as market leaders."
Earlier this week, BusinessLive reported how Aver has agreed to fund the Novus Point project in Newcastle-under-Lyme.
The scheme would see a 330,000 sq ft warehouse built on the former Stoke Speedway site on Lymedale Business Park.
