ACRE Capital have advised LondonMetric on the sale of a portfolio of light industrial estates in Birmingham known as Project Garrison.
The portfolio extends to approximately 445,838 sq ft with all three properties being positioned with excellent proximity to Birmingham City Centre. The portfolio comprises 113 units, let to 101 tenants, with approximately 30% of the income contracted outside the 1954 act and 62% of the income subject to rent review of lease expiry within 18 months.
The portfolio received a very strong depth of investor demand and sold for £46,000,000.
Property Type: Light Industrial Portfolio
Transaction Type: Sale