A Rugeley business park with 17 industrial units has been acquired by a family-owned property company.
Northern Trust Company’s acquisition of Canal View Business Park further enhances its growing presence across the Midlands.
The 58,383 sq ft multi-let industrial estate on Wheelhouse Road is situated five miles away from Northern Trust’s Midlands Regional Office in Cannock, which will enable hands-on management and continued support for occupiers.
Northern Trust director Tom Parkinson said: “Canal View Business Park represents a strong addition to our Midlands portfolio, providing a well-located and established industrial scheme that complements our existing holdings.
“The estate’s range of unit sizes and strategic position within Rugeley make it an attractive proposition for local and regional businesses.
“We continue to see sustained demand for high-quality, flexible industrial accommodation, and this acquisition aligns with our long-term investment strategy.”
Caroline Jones, Regional Property Manager for the Midlands, added: “We are pleased to welcome Canal View Business Park into our management portfolio.
“Its close proximity to our Cannock office allows us to provide a proactive, hands-on management approach, ensuring tenants receive the high level of service and support Northern Trust is known for.
“We look forward to working closely with occupiers and further enhancing the estate moving forward.”
The business park had remained in the same ownership since its construction approximately 20 years ago.
23 Real Estate acted for Northern Trust on the acquisition.
Northern Trust’s Midlands portfolio now extends to approximately 1.4 million sq ft across more than 850 units at 33 locations. Collectively, these assets support more than 3,700 jobs.
