AEW UK Core Property Fund has sold the freehold of a modern manufacturing and distribution unit on Kineton Road Industrial Estate Southam Leamington Spa previously let to Adare Precision to a local packaging business for a sum of £6million.
The property was vacated by the tenant upon lease expiry and Bromwich Hardy were instructed to seek a new occupier.
Marketing resulted in significant freehold interest as well as a number of rental enquiries and AEW took the view that the strength of the market and resultant yield proved attractive to the fund who took the decision to sell.
Andrew Cosnett, Partner at Bromwich Hardy comments
“The sale underlines the strength of the Warwickshire occupational market with significant demand for freehold premises coupled with a lack of supply. We were delighted to act on behalf of AEW in the sale of this building “