Hortons lands deal for former aircraft factory in East Midlands
Hortons has strengthened its presence in the industrial/logistics sector with the acquisition of a multi-let estate in Leicestershire, once home to the famous Auster Aircraft.
Rearsby Business Park is set on a 12.95-acre site near Rearsby, between Leicester and Melton Mowbray, within the M1 corridor.
The estate comprises 155,985 sq ft across 15 fully let industrial units with an additional 2.5 acres of development land for future expansion.
Hortons has acquired the business park from a private investor for an undisclosed price - it is the first time the site has changed ownership in almost 50 years.
Rearsby has a rich manufacturing history and the site was once home to Taylorcraft Aeroplanes (England) Ltd’s factory, where the world-famous single propeller ‘Auster’ light aircraft was designed and built. It has since been extensively modernised, extended and redeveloped, with the last unit being added in 2020.
Established tenants at Rearsby Business Park include: East Coast Fittings, T.E.K Seating, GT Plumbing & Heating Engineers, Lewis & Hill Ltd, Metric Services (Leicester) Ltd, and K & D E Barnett & Sons Ltd.
Steve Tommy of Hortons, said: “We are pleased to have secured such a well established asset, in the heart of the East Midlands’ industrial market. The acquisition of Rearsby Business Park complements our expanding industrial/logistics property portfolio, providing a strong existing rental income and opportunities to add value.”
Hortons holds a substantial investment and development portfolio, containing 5.5 million sq ft office, industrial, retail and leisure properties located throughout the Midlands.
Last year the company significantly expanded its industrial/logistics footprint with three acquisitions totalling more than £35 million. They include Airfield Industrial Estate, Hixon in Staffordshire, Sinfin Commercial Park in Derby, and Saxon Park, on the Oakley Hay Industrial Estate near Corby.