MStar buys portfolio for £9.452m
A JOINT venture between Starwood Capital Group and M7 Real Estate – MStar – has purchased an industrial portfolio from AXA REIM for £9.452m.
Totalling 366,152ft² (34,016m²) the four multi-let industrial estates are located in Sheffield, Warrington and two in West Bromwich. The properties are let to a variety of tenants including The BSS Group, Wolseley Centres and Bayliss Automotive.
The deal was advised by real estate advisor Savills in Birmingham.
Ned Jones, director of investment at Savills Birmingham, said: “This portfolio boasts strong fundamentals and offers our client potential for good long term income generation. We continue to see investor appetite growing for industrial property in the regions, with the ability to gain higher returns than for the equivalent product in the south east.”
AXA REIM was unrepresented.
