NG clinches multimillion-pound deal for former foundry site
4th April 2019
We’ve recently completed the sale of the former JVM Castings site in Tamworth after a period of intense marketing.
Richard Sutton, director at NG, acting on behalf of the family owners of the site, completed the sale of Borman Eighty One, brokering a multi-million pound deal with private investors, represented by Sam Sutton of Phillips Sutton Associates of Leicester.
The deal comes after the decision to close the JVM Castings site.
“The former JVM site extends to over 85,000 sq ft on the Lichfield Road Industrial Estate close to the town centre, and attracted high levels of interest.
“We quickly initiated an innovative marketing strategy to identify buyers for this site, which is in a prime location in Tamworth and has an established use for Class B2.
“Sites such as this one don’t come along very often, but when they do we make sure our clients get the best possible deal – and this was no exception. It might the end of an era for JVM Castings, but we’re sure it’s the start of a new one for the site’s new owners and we wish them all the best.”
Sam Sutton of Phillips Sutton said:
“We were delighted to acquire this building for our client in such a short time frame. We knew they were looking for vacant warehouses that are in need of some TLC and this fitted the bill perfectly. We were also aware that they owned the building next door, so the opportunity was too good to miss for them.”
The Borman Eighty One site sits on the Lichfield Road Industrial Estate, an established industrial location within the town. The Apollo and Lichfield Road Industrial Estates lie to the northwest of the town centre and to the north of the A51 (Lichfield Road).
Apollo is the main road running through the centre of the estate with Borman accessed directly off the spine road.