Hansgrohe, Tournament Fields, Warwick, CV34 6XG
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Atlas RE has successfully advised clients of Columbia Threadneedle on the off market acquisition of a new prime distribution warehouse at Tournament Fields, Warwick.
The headquarters distribution warehouse totals 37,600 sq.ft. The passing rent is £300,000 per annum and is let to Hansgrohe Limited on a 15 year lease subject to tenant only break at year 10.
The purchase price was £5,285,000 which reflects a net initial yield of 5.32%.
Commenting on the deal, Andrew Franck-Steier said “It is great to have concluded the purchase of this prime asset on behalf of Columbia Threadneedle. The unit lies on a prime park immediately adjacent to J15 of the M40 in an area with scarce supply.”
The vendors were represented by Wareing & Co and the purchasers were represented by Atlas RE and Bromwich Hardy.
