Major engineering site in Burton Latimer sold for £9m

The Shield Aluminium site in Burton Latimer has been sold to a UK and European investment company.

Oxenwood Real Estate have purchased the manufacturing and distribution facility with the die casting company remaining as tenants.

The site employs 160 highly-skilled workers to manufacture products for clients including Perkins, Caterpillar, JCB and Aston Martin.

The 216,753 sq ft warehouse and office site is next to Weetabix’s European headquarters. It was previously owned by Aberdeen Standard Investments but has been sold to Oxenwood for £9.05m.

Shield has more than 17 years remaining on the lease and will stay on the site.

Stewart Little, co-founder and chief executive of Oxenwood, said: "This acquisition reflects our continued focus on assets with strong and long income for our joint venture with Catalina.

"The facility is an important manufacturing plant for Shield and is located within an established Midlands logistics location.

"Longer term, the asset may revert to a more logistics based operation, but in the meantime, the asset delivers an excellent and growing income stream to the joint venture."