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Cyril Leonard advise Columbia Threadneedle with the acquisition of an Amazon distribution hub in Droitwich

Columbia Threadneedle has completed the acquisition of an Amazon distribution hub in Droitwich from Antler Property Investments for £7m, as the investment manager continues to increase its exposure to industrial assets across the Midlands, CoStar News can reveal. Cyril Leonard advised Columbia Threadneedle.

The deal represents a net initial yield of around the 7.5% mark.

Antler Property appointed Knight Frank to seek offers for the 113,000 sq ft distribution facility towards the end of last year, as the Midlands logistics sector continues to woo investors.

The facility is let in its entirety to Amazon, the e-tailing behemoth, on a 10-year lease at £557,301 per annum.

The property, which was developed in the late 1980’s, is located on the well-established Hampton Lovett Industrial Estate with high-profile local occupiers including; VAX, DHL, Magna, 365 Healthcare, Müller Wiseman, Atchison Topeka and Spire Healthcare.

The deal is the latest in a string of industrial acquisitions by Columbia Threadneedle across the Midlands targeting assets yielding between 7 - 9%. In February, the asset manager acquired a 50,000 sq ft unit let to Air Space in Wolves from Assa Abloy for £4m, reflecting a net initial yield of 7.27%; and last year it purchased a 170,000 sq ft unit in Rugby for £8.1m, a 9% initial yield.

Knight Frank acted on behalf of Antler Property Investments.

All parties declined to comment.

Article Details

Author: Cyril Leonard
Capital & Occupational Markets

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