NORTHERN TRUST ACQUIRES CANAL VIEW BUSINESS PARK IN RUGELEY

Northern Trust Company Ltd has strengthened its Midlands portfolio with the acquisition of Canal View Business Park, a 58,383 sq ft multi-let industrial estate located on Wheelhouse Road in Rugeley.

The estate comprises 17 industrial units, ranging in size from 2,572 sq ft to 5,460 sq ft, offering a diverse mix of accommodation suited to small and medium-sized businesses. Situated in the heart of Rugeley’s established industrial area, the scheme benefits from strong connectivity, with Stafford and Lichfield both approximately 10 miles away, and Birmingham located 27 miles to the south.

The property’s proximity to Northern Trust’s Midlands Regional Office in Cannock, just five miles away, will enable hands-on management and continued support for occupiers.

This latest acquisition further enhances Northern Trust’s growing presence across the Midlands, where its portfolio now extends to approximately 1.4 million sq ft across more than 850 units at 33 locations. Collectively, these assets support in excess of 3,700 jobs, underlining the company’s ongoing commitment to regional economic growth and business support.

Tom Parkinson, Director at Northern Trust, commented: “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.”

Barry Riley, Director at 23 Real Estate Ltd, who acted for Northern Trust on the acquisition, said: “This represented a rare opportunity to acquire a purpose-built industrial estate that has remained in the same ownership since its construction approximately 20 years ago. The scheme provides well-configured terraces of units with generous parking and yard areas, ideally suited to local occupier demand, particularly at a time when availability of comparable space is at historically low levels. Northern Trust is well positioned to leverage its extensive asset management expertise to further enhance the estate’s profile, improve the occupier experience and drive long-term value. It was a pleasure working with the Northern Trust team, who adopted a proactive and pragmatic approach throughout the transaction. We would also like to extend our thanks to the seller’s agents at Cushman & Wakefield, Ned Jones and Harry Abell, whose collaborative approach helped ensure a smooth and efficient completion.”

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.”

Northern Trust remains focused on expanding and actively managing its UK portfolio, delivering flexible business space that supports SME expansion and relocation. This latest acquisition further strengthens the company’s strategic growth across the UK, with the portfolio now exceeding 9 million sq ft across more than 4,000 units, supporting over 25,000 jobs nationwide.

For more information, please contact Northern Trust’s Midlands office on 01543 478900 or email midlands@northerntrust.co.uk

-        End   –