Pictured above: Ian Kibble
National commercial property consultancy Lambert Smith Hampton
(LSH) has pulled off the biggest Midlands industrial property deal
of the year to date with the acquisition of a nationwide
£60.5 million industrial portfolio. The Birmingham office of
LSH took a major role in the deal.
LSH acted for a Scottish Widows Investment Partnership to
acquire the St Martins industrial portfolio. The deal, named
Project Blue, includes major multi-let industrial estates including
significant industrial space in Oldbury and two sites in Minworth.
Centurion Properties are managing the assets on Scottish Widows
Investment Partnership's behalf.
Mike Thatcher, Regional Director at LSH, said: "The deal is a
major coup for LSH's Industrial and Logistics and Capital Markets
teams."
The portfolio is made up of seven industrial estates and a
distribution warehouse totalling 1.32 million sq ft with an
estimated potential rental value of around £7 million a
year.
It includes the 7.5 acre Junction 2 Industrial Estate next to
the M5 at Oldbury which is made up of nine large industrial and
warehouse units.
Also included in the portfolio is the 14 acre Kingsbury Business
Park in Minworth, a seven-unit site occupied by GKN Driveline,
Webasto Holdings and Bergstrom (Europe), and a five acre
distribution centre on the Forge Lane Estate in Minworth.
Other sites in the portfolio are the Lakeside Industrial Estate
in Colnbrook, The Elms in London, the St Martins Business Centre in
Bedford predominantly occupied by Fujifilm (UK), the Lawnhurst
Trading Estate in Stockport and the Kinning Parkway Estate in
Glasgow.
Ian Kibble, Head of LSH's Birmingham office said: "The client
has benefited from LSH's network of offices across the country,
specifically Birmingham, London, Glasgow, Manchester and Luton.
"During the acquisition process latent value was identified in
several of the sites. We are now working with Centurion to manage
the estate proactively and release this value for the benefit of
our clients."
For more information about Lambert Smith Hampton, please visit
their website here: www.lsh.co.uk