Lambert Smith Hampton (LSH) - Redditch, Lakeside Industrial Estate

Date: 11 Mar 2010

Scottish Widows buys industrial for £6.4 million.

In a deal which took place in just three weeks, the Scottish Widows Investment Partnership Property Trust has purchased Phase 1 and 2 Lakeside Industrial Estate in Redditch.

The estate will be managed by CIAM (Centurion Industrial Asset Management), the specialist Asset Management Company owned by Paul Reid and Julian Rooth, which currently manages £70m worth of industrial assets for the trust.

The Birmingham office of national commercial property consultancy, Lambert Smith Hampton (LSH), introduced and secured the acquisition of the 203,510 sq ft industrial estate for £6.4 million, on behalf of SWIPPT/CIAM.

Phase 1 and 2 Lakeside Industrial Estate comprises 17 well configured units let on 13 leases to 11 tenants.

Alex Hanna, at LSH Birmingham, said: "This was an ideal industrial investment to acquire as the site was ripe for added value from strategic management. There are multiple opportunities and angles to add value, namely a void, lease renewals, potential for re-gears, and refurbishment, through intensive asset management."

Alex added: "Smart asset management combines in-depth knowledge of the local property market with detailed information about the client's reason for ownership. Analysing the portfolio, strategic refurbishments, environmental improvements and re-gearing of leases all enable the value of a site to be maximised."

LSH will continue to act as joint letting agents on Lakeside alongside CBRE.

Lakeside Industrial Estate

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