DHL shed snapped up at Hams Hall
Schroders Capital’s real estate team has disposed of a major unit at Hams Hall Distribution Park in Birmingham, to URBZ Capital.
Unit 3C, a 177,800 sq ft distribution facility developed in 2001, was acquired by the firm on behalf of its capital partner Ivanhoé Cambridge in October 2021, as part of a £345m industrial swap deal with SEGRO.
It is let to DHL Supply Chain until August 2026, which manages its Selfridges contract from the facility, distributing products to the retailer’s department stores in London, Manchester, and Birmingham, as well as its worldwide e-commerce operation.
The disposal of Hams Hall comes as Schroders Capital completed an outstanding rent review for the asset, which resulted in a sale in accordance with the fund’s management strategy.
Towards the end of last year Schroders Capital’s industrial team oversaw the practical completion of several new units at Hartlebury Trading Estate in the West Midlands which increased SCREF’s industrial weighting to 33.62%.
In addition, the team completed 275,000 sq ft of new industrial and logistics letting transactions across its UK-wide portfolio amongst others at Schroders’ multi-let industrial parks at Hartlebury, and the Acorn Industrial Park in Crayford.
Rob Cosslett, fund manager at Schroders Capital, said: “The sale of Hams Hall is in-line with SCREF’s strategy of divesting out of assets upon the completion of the business plan.
“The price achieved reflects the demand for well-located industrial assets in the UK as well as the asset management capabilities of the wider Schroders Capital team who managed to secure a strong uplift at the recent rent review with a leading occupier, making the asset more attractive to institutional buyers.
“We are always looking to create long sustainable income and deliver value to our investors. The returns delivered by the sale of Hams Hall will support committed capital expenditure initiatives across the existing portfolio to increase value and to further grow our allocation to multi-let industrial assets.”
Schroders Capital UK Real Estate Fund were advised by Gerald Eve while DTRE acted on behalf of URBZ Capital.
