Hams Hall 170 & Hams Hall 28, Hams Hall Distribution Park, Coleshill, B46 1AL
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Franck Steier Price has recently completed the acquisition of two prime distribution units on behalf of Legal and General Property Trust.
The properties are located on Hams Hall Distribution Park, one of the UK’s premier distribution parks, situated on the A446 dual carriageway 0.25 miles to the south of Junction 9 of the M42 and T1 of the M6 Toll and 4 miles to the north of Junction 4 of the M6.
The properties were both constructed in 2007 and comprise high specification distribution warehouses. Hams Hall 170 extends to 15,863 sq.m (170,753 sq.ft) and Hams Hall 28 extends to 2,592 sq.m (27,904 sq.ft).
Hams Hall 170 is let to Kuehne and Nagel Drinkflow Logistics until 2017 at a rent of £1,074,396 per annum and Hams Hall 28 is let to ABB Ltd until July 2021 at a rent of £140,000 per annum. ABB Ltd has a break option in July 2016.
The purchase price of £16,600,000 reflected a net initial yield of 6.91% after purchaser’s costs of 5.80%.
The vendor was IM Properties Plc.
Ben Blackwall, Director at Atlas Real Estate, comments ‘This acquisition gave the Fund the opportunity to acquire two highly specified industrial units on one of the UK’s premier distribution parks.’
‘The Midlands industrial market is currently experiencing the highest level of take up of any region in the UK coupled with availability at its lowest level since records began. The distribution sector is also the top performing sub sector based on total returns in 2013. This acquisition therefore represented a key strategic acquisition in a sector where both take up and returns are outperforming the rest of the property market.’
