Logix Park warehouse sold for £5m

F&C Property Growth and Income Fund, managed by BMO Global Asset Management, has bought a 58,640 warehouse at Logix Park Hinckley for £5m.

The building, known as Unit 2 Logix Park, was developed by Goodman in 2007 and is let to online flooring retailer UK Flooring Direct Ltd until 2027.

Knight Frank acted for the buyer.

Jonathan Devaney, partner in the Knight Frank Midlands Capital Markets team, said: “This was a rare off-market transaction in a market that is starved of good quality stock. The property is well specified and in a ‘Golden Triangle’ location just off the A5. The passing rent is modest, providing strong growth prospects, and the purchase price reflects a sensible capital value per sq ft.”