DHL warehouse sold for £9.2m
A 167,000 sq ft warehouse in Magna Park, Lutterworth, has been sold for £9.2m.
Warwickshire-based IM Properties sold the building to the Local Authorities' Mutual Investment Trust (LAMIT) for £9.188m.
The site, currently let to DHL, was brokered by Cushman & Wakefield on behalf of IM Properties with Drivers Jonas Deloitte acting for CCLA Investment Management on behalf of LAMIT.
Tim Wooldridge, managing director for IM Properties, said: "The sale was a strategic decision taken as part of our ongoing programme of selectively disposing of assets with short income profiles in order to increase the average weighted unexpired lease terms across our portfolio.
"Magna Park is an extremely popular logistics location and we are delighted to have completed the sale of the property to a buyer whom we have dealt with previously and who consistently performs."
IM Properties said it is now "actively seeking" further investment opportunities within the region.
