A warehouse near Wolverhampton has been let to a manufacturer.
Ibstock, which makes clay bricks and concrete products, has taken a 143,907 sq ft at Hilton Cross Business Park, in Featherstone near junction one of the the M54.
Ibstock has signed a ten-year lease with landlord Oxenwood Real Estate at an initial rent of £7.95 per sq ft. Hilton Cross Business Park was acquired in 2021 from the occupier, filtration company Mann + Hummel.
The unit was then leased back to Mann + Hummel on a short contract which the parties then agreed to end.
Ibstock has taken occupation of the facility following completion of a refurbishment.
Stewart Little, co-founder of Oxenwood Real Estate, said: "The letting to a high-quality manufacturing company in parallel with securing vacant possession of the building reinforces our strategy to acquire short-let or vacant buildings in markets which have high confidence in occupier demand."
Oxenwood was advised by property consultancy Carter Jonas.
