News

DTZ Investors has completed the sale of a multi-let industrial estate in Worcester to Chancerygate / JR Capital for £8.0 million, reflecting a net initial yield of 5.90%.

Cranham Industrial Estate is located close to Junction 6 of the M5 and provides direct access to Birmingham and Bristol. The property has a total GIA floor area of approximately 67,846 sq ft and comprises 17 units, let to 11 tenants, including Royal Mail and Bayliss. The property has a WAULT of 1.5 years, offering the opportunity to capture significant reversion over the short to medium term, given the low passing rents.

Tom Royston, Director at DTZ Investors “This was a strategic sale enabling the fund to crystallise strong performance from the asset. We will now look to reinvest the sales proceeds into new opportunities that are accretive to fund structure and performance”.

Chris Robinson, Partner at Cushman & Wakefield - “We are very pleased with the positive outcome achieved for our client, DTZ Investors. The transaction created significant interest from investors resulting in competitive tension, in a market with limited supply.  This sale demonstrates continued investor conviction in the Industrial investment market across the UK”.

Cushman and Wakefield acted for DTZ Investors and Gerald Eve acted on behalf of Chancerygate. 

For more information please contact Tom Royston