Unit 3, Nexus Point, Gavin Way, Birmingham B6 7AF, sold by KWB.
The independent Birmingham-based commercial property agency KWB has sold the freehold investment to a 35,000 sq ft industrial warehouse.
Acting on behalf of London-based CCLA Investment Management, Kenny Allan, director of industrial agency at KWB, sold Unit 3, Nexus Point, Gavin Way, to DTZ Investors UK, for £3.25 million, reflecting a net initial yield of 5.1%
Property consultancy Harris Lamb represented the purchasers.
Built in 2003, Unit 3 is a 35,433 sq ft modern high specification warehouse with office accommodation on a
It is let to EEF for a Technology and Training Centre on a
Mr Allan says: “The current shortage of supply of warehouse units of this size means we attracted many bids for this property and beat the guide price, despite the potentially short income, with a tenant break in only two years.”
This investment sale follows hard on the heels of KWB letting a 20,000 sq ft industrial unit at Perry Park in Birmingham to Howdens Joinery on behalf of Legal & General’s Industrial Property Investment Fund, and letting 37,200 sq ft of industrial space at Electrium Point in Willenhall to haulage firm J Madden Transport Ltd on behalf of Hortons’ Estate Limited.
With offices in Birmingham and Solihull, KWB is an independent firm of chartered surveyors which offers a comprehensive commercial property service and unrivalled market knowledge across the West Midlands.
KWB has been trading for more than 25 years and its senior management team has in excess of 200 years combined professional experience.
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