Midpoint 105, MinworthPosted on November 20, 2018
In November 2018 Clay Street completed the acquisition of this prime, refurbished logistics investment on behalf of Royal London.
- West Midlands logistics investment opportunity totalling 105,506 sq ft GIA.
- Located in Minworth, one of Birmingham’s principal distribution areas served by the M6, M42 and M6 Toll. 11 motorway junctions are within 5 miles of the property, offering unrivalled access to the wider UK motorway network and a large pool of flexible low-cost labour.
- Prominently situated on Midpoint Park, one of the UK’s premier distribution parks home to major occupiers including Cadbury, DHL Supply Chain, ASDA, Jaguar Land Rover and Kuehne & Nagel.
- Developed in 1996, the unit benefits from a minimum clear eaves height of 10m, 5 surface level loading doors (with scope to add dock levellers) and a fully secured loading yard with a consistent depth of 30m.
- Let to Parts Alliance Group Limited on a new full repairing and insuring lease for a term of 5 years from 31 August 2018.
- Current passing rent of £659,412.50 p.a., reflecting £6.25 psf.
- Parts Alliance Group Limited is one of the UK’s leading suppliers of automotive parts to the independent aftermarket and is rated ‘4A1’ by Dun & Bradstreet with 2017 accounts reporting a turnover of £153,992,000 and pre-tax profits of £5,786,000.
The vendor; Goldman Sachs/Square Metre AM was represented by Gerald Eve. The sale transacted at £12,300,000 representing a Net Initial Yield of 5.02%.