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Barwood Capital Grants New Lease on Birmingham 100

The newly refurbished industrial warehouse owed by Barwood Capital has given a new lease on a 100,511 sq ft warehouse located in Walsall Road, north of Birmingham City centre.

The warehouse was signed off to a well-known plumbing and heating supply business who further sold the ‘Birmingham 100’ warehouse to a private family investor.

The new occupants are on a 10-year lease at a rent of £6.25 psf, with occupation starting last month.

Barwood Capital acquired the site in 2015 through its Barwood Property 2015 Fund, and development of the warehouse was done with its development manager Panattoni.

Danielle Sheppard, investment director, Barwood Capital said: “Having sourced a site, delivered a quality speculative building through Panattoni, secured a letting to a prime covenant and now sold on as an investment, we have again demonstrated our ability to make strong returns for our investors. Occupier interest in this sector remains robust, driven by not only the economy but also the growth of online retail. The right building in the right location remains highly sought after, and our 2015 Property Growth Fund has ensured that it has invested in the best location and delivered a quality product. The letting and subsequent sale has allowed us to realise value to our investors, and we remain on track to deliver an IRR of more than 15% and a 1.5x equity multiple.”

CBRE and JLL acted on behalf of Barwood Capital for this transaction.

The occupier used PKS Property, and the private investor used Everton Phillips to complete this transaction.

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