Hortons’ acquires Matalan’s Bilston warehouse

Hortons’ Estate Ltd has completed the £6.05 million acquisition of a retail warehouse near Wolverhampton.

The company has purchased the 45,102 sq ft standalone unit, which is located on a 3.3 acre site on Springvale Way in Bilston, just off the Black Country Route.

The site includes a service yard and large surface car parking to the front of the property and an overspill car park to the east side of the unit.

Matalan Retail occupies the purpose-built retail warehouse and recently signed a five-year lease extension until September 2031.

The acquisition marks Hortons’ first major investment of 2022 and continues the expansion of its commercial property portfolio, which features industrial/warehouse, office, retail and leisure properties located throughout the Midlands.

Steve Tommy, head of asset management at Hortons’ said: “This is a well located unit on an established retail estate off the Black Country Route, with connections to the national motorway network. The property is a welcome addition to our portfolio and as one of Matalan’s better performing stores, it has recently committed to the location by signing a long-term lease extension. We look forward to working together in the years ahead.”

Hortons’ was represented by Andrew Benson of Wright Silverwood.