Cabot Properties has bought a warehouse and distribution facility leased to arts and crafts retailer Hobbycraft, for £20m.
The facility, in the Centrum 100 Business Park in Burton upon Trent, measures 213,000 sq ft. Hobbycraft’s lease agreement runs for a further eight years.
LaSalle first bought the property in 2013 on behalf of a pension fund.
Sophie Simmonds, fund manager at LaSalle Investment Management, said: “Investor appetite for distribution and logistics properties remains strong and we will continue to capitalise on this buoyant market to focus our industrial investment in those assets that combine prime locations, strong transport connections and attractive supply-demand dynamics.”
LaSalle was advised by Savills.
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