Morris & Company complete sale of flagship development

Morris & Company has completed the sale of its flagship development, Apex @54, a 67,888 ft2 logistics unit on the i54 Business Park to LondonMetric Property Plc.

The deal marks the latest milestone for Morris, who designed and built the high-specification unit, which was completed in 2021. The building is let to Access360, a leading supplier of access solutions, reinforcing the units appeal as a prime long-term investment.

Located fronting the M54 motorway, Apex @54 offers connectivity and visibility within the award-winning i54 Business Park, a popular destination for advanced manufacturing and logistics. The business park is currently home to several global occupiers, including Jaguar Land Rover, Moog, and Collins Aerospace.

Mark Vernon of LondonMetric Property Plc commented:

“Apex @54 is a strong addition to our portfolio. The combination of a prime central location, certainty of income, and a well-built unit ticks all the boxes for us. The quality build delivered by Morris Property and the reputation of the business park made this an easy decision.”

Richard Lingen of Savills, acting on behalf of Morris & Company, brokered the deal. He added:

“We’re delighted to have secured this sale on behalf of Morris & Company. Apex @54 is an excellent example of a developer delivering exactly what the market demands – a well-connected, modern building with strong tenant appeal.”

The sale underlines Morris’s commitment to delivering market-leading industrial developments and further strengthens their position as a trusted developer in the West Midlands.

Liz Lowe, Head of Development at Morris Property, added:

“This sale reflects the strength of the industrial market in the Midlands and the quality of the buildings we deliver. Apex @54 was designed and built to a high specification by our in-house construction team, and we’re proud to see it now form part of LondonMetric Property Plc’s portfolio.”

“The transaction further underlines Morris & Company role as a leading developer in the West Midlands industrial sector and supports continued investment across the region’s strategic employment locations.”