Hams Hall National Distribution Park, Birmingham
Burton-on-Trent
Franck-Steier Price have recently concluded one of their first sales at Lancaster Park, Burton-on-Trent. Acting for a private client the new build Unit 3a office was sold for £340,000 reflecting an initial yield of 7.58%. The office was let to Northern Racing on a six-year lease with a tenant break at year five. The property was purchased by a private investor. FSP and Rushton Hickman acted for the vendor.

Birmingham
Wrenbridge Land has sold its 10-acre development at Hams Hall National Distribution Park, north east of Birmingham, for £16m. The investment, which has been sold to I M Property plc represents an initial yield of 7.33%.
The development, which comprises two units, was let in advance of the completion of construction. In March 2007, the 170,000 sq ft facility was let on a 10-year lease, subject to a five-year break, to Kuehne & Nagel, a global logistics company. The second 28,000 sq ft unit was pre let in October to Bridisco, the UK’s largest electrical distributor, for 15 years, subject to a 10-year break. Rents achieved were £5.75 and £5.95 psf respectively.
M3 acted for Wrenbridge and Jones Lang acted for I M Property plc.