Developer and asset manager Canmoor has acquired a car component factory in Birmingham from the Canal & River Trust for £10.4m.
Sertec Group, Redfern Park Way
The 111,727 sq ft manufacturing warehouse at Redfern Park Way, Tyseley, is leased to Sertec Group. The group has invested significantly over the past 15 years upgrading the warehouse.
Mark Rooke, director in the investment team at MK2 Real Estate, which acted on behalf of the Canal & River Trust, said: “Only a handful of units of this size have come to the market in the last six months.
“It’s a real sweet spot for investors and as a result we saw a lot of interest in this asset.”
The sale reflects a net initial yield of 5.6%.
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