News - Midlands
Year’s largest distribution deal lands in Midlands
King Sturge's Birmingham office has completed the largest Midlands distribution deal this year, with the acquisition of three warehouses at Hams Hall National Distribution Centre, Coleshill, totalling £34.8m. Reflecting a net yield of 9 per cent, the 620,000 sq ft distribution space has been bought by London-based F & C Commercial Property Trust, for which King Sturge acted. The vendor is Ropemaker Properties, the pension arm of the BP Pension Fund. The three units are currently let to tenants Bell Micro Products, Wincanton Holdings and Arvato SCM, with a total passing rent of £3,338,062 per annum for an average unexpired lease term of approximately six years.