Canal & River Trust disposes of warehouse in £7.1m deal

Canal & River Trust has offloaded a logistics scheme on Birmingham’s BSA Industrial Estate, in a £7.1m deal.

Axel Logistics has acquired the 78,500 sq ft site, which is let to MacDermid Performance Solutions UK. The US-headquartered manufacturer of surface coatings has eight years remaining on its lease.

Unit 1, built in the 1980s, has since undergone significant renovation, including a new roof and the addition of 1,400 PV panels and EV charging bays. With an EPC Rating of A, Unit 1 occupies more than a third of the 4.98 acre site.

MK2 Real Estate advised the charity, which owned the property for 14 years, on the sale to Axel Logistics. Axel Logistics was advised by CBRE.

Mark Rooke, a director in MK2’s investment team, said: “We received strong interest and multiple offers for this property, in particular from investors seeking urban logistics assets. Given the site’s location, just two miles from Birmingham city centre, and the strong covenant of the incumbent tenant, it was a cracking opportunity.”