Halesowen
St Modwen has sold the long-leasehold investment in the final industrial unit on the 46-acre Coombs Wood Business Park, Halesowen, to Hawkstone Properties plc for £620,000.
The 665 sq m (7,155 sq ft) unit is let to Ginsters (Samworth Bros Ltd) on a 15-year lease at £37,564 pa. The sale represented an net initial yield of 5.73%.

St Modwen, which has developed Coombs Wood in association with Corus plc, is now planning the final phase of the business park providing in excess of 30,000 sq ft of office accommodation on a speculative and design and build basis. More than 41,805 sq m (450,000 sq ft) of accommodation has been built.
Atisreal acted for St Modwen. King Sturge represented Hawkstone Properties.