West Midlands distribution hub sold in £100m deal

A regional distribution hub used by supermarket group Sainsbury’s has been sold in a £100m deal.

The warehouse at Hams Hall, near Coleshill, has been purchased by Knight Frank Investment Management (KFIM) on behalf of a group of Korean institutional investors.

The deal comes just three weeks after KFIM completed its first deal for the Korean clients; this one being the purchase of a BAE manufacturing facility in Crewe.

Kevin Aitchison, CEO at KFIM, said completing a second investment within such a short time scale was testament to the efforts the firm had made to further its partnership with Korean Asset Management Companies (AMC).

He said the firm had worked hard to understand the investment aspirations of the Korean investors and had responded accordingly.

Hams Hall is a distribution hotspot within the region, with many companies opting to set up base there because of its strong transport connections.

The area is also home to BMW’s engine manufacturing plant.

Mr Aitchison said the Koreans had been keen to target such opportunities because of their long-term investment potential.
He said KFIM was currently engaged on a number of other projects, both in the UK and on the continent, on behalf of other Korean investors and was continuing to seek new opportunities to meet their investment targets.

LB Asset Management acted as local Korean AMC partner, with IM Properties representing the vendor. Also working on the deal was Richard Claxton’s team at Knight Frank, their colleagues at Knight Frank Korea and Ashurst, KFIM’s legal and structuring advisor. While Knight Frank acted for KFIM, CBGA represented the vendor – Christian Vision, a fund managed by IM Properties.

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