Lambert Smith Hampton’s capital markets team in Birmingham is celebrating a strong Quarter 2, after completing four industrial investment deals worth in excess of £17 million.
The team is bucking the national downward trend, which saw commercial property investment across the Midlands fall in Q1 as the ongoing Brexit impasse continues to have a negative impact on the market.
Industrial investments in Wednesfield, Kidderminster, Erdington and Hinckley, totalling more than 200,000 sq ft, changed hands in deals completed by the Birmingham team.
Adam Ramshaw, regional director and head of Birmingham said: “The capital markets team has enjoyed a great Q2 and is capitalising on the continued levels of investment being seen in the industrial market in particular. While concerns in the occupational market have impacted on pricing and liquidity in other sectors, the favourable demand and supply dynamics in the industrial market has meant that it remains the sector of choice for many.
“The four transactions, completed over just a six week period, demonstrate that there is still money out there for the right deals.”
The largest of the four transactions was in Erdington where LSH advised on the acquisition of a well let warehouse for over £5m. Elsewhere, they successfully sold Units 2-4 Steelpark Trading Estate in Wednesfield in a deal worth over £4m.
The estate was speculatively developed by West Midlands property company Goold Estates and was fully let within weeks of practical completion. The units were let to Zurich Insurance Group, Cooper Coated Coil, Smith’s Metals, each for a minimum term of 10 years and with the benefit of RPI or CPI linked rent reviews.
CAPTION: Lambert Smith Hampton's capital markets team (from left) Adam Ramshaw, Ankur Chadha and Richard Durkin.
Company becomes part of The Ladder for Greater Birmingham
Firms warned that not all staff will want the vaccine
Pioneering initiative in Birmingham will help break the cycle of re-offending
Ten-year lease agreed on Colmore Row site
Investment in the growing warehouse and distribution market
Research reveals it's one of the UK's fastest growing cities
Real estate professionals from across the West Midlands attend event
Rebates could help recoup thousands
City investment management expert warns of huge funding pressures
Specialists prepare for smooth transition
Birmingham firm sees good profit growth
Growing demand leads to request for injection of funds
Investment manager and head of Midlands region, Tilney
Law firm launches new department
Taylor Maxwell takes on ground floor space
Brexit and tougher economic conditions lead to fewer projects in city centre
It's time for a sound rationale, and reasoned approach
'Stark realities' are laid bare