LSH completes £60m industrial deal
The Birmingham office of property consultant Lambert Smith Hampton (LSH) has completed the acquisition of a nationwide industrial portfolio worth more than £60m. The deal is thought to be the biggest industrial property deal of the year in the Midlands.
LSH acted for a Scottish Widows Investment Partnership to acquire the £60.5m St Martins industrial portfolio. The deal, named Project Blue, includes multi-let industrial estates in Oldbury and two sites in Minworth.
The portfolio comprises seven industrial estates and a distribution warehouse totalling 1.32 million sq ft. It has an estimated potential rental value of about £7m a year.
It includes the 7.5 acre Junction 2 Industrial Estate next to the M5 at Oldbury which is made up of nine large industrial and warehouse units.
Also included in the portfolio is the 14-acre Kingsbury Business Park in Minworth, a seven-unit site occupied by GKN Driveline, Webasto Holdings and Bergstrom (Europe), and a five-acre distribution centre on the Forge Lane Estate in Minworth.
