News - Midlands
Lakeside snapped up by Scottish Widows
In a deal which took just three weeks to close, the Scottish Widows Investment Partnership Property Trust has purchased phases one and two of the Lakeside Industrial Estate in Redditch. The estate will be managed by Centurion Industrial Asset Management (CIAM), the specialist asset management company owned by Paul Reid and Julian Rooth, which currently manages £70m worth of industrial assets for the trust. The Birmingham office of Lambert Smith Hampton introduced and secured the acquisition of the 203,510 sq ft industrial estate for £6.4m, on behalf of SWIPPT/CIAM. The phases bought comprise 17 well-configured units let on 13 leases to 11 tenants.