Goodman has completed its sale of two distribution warehouses at its Brackmills industrial estate in Northampton to clients of BNP Paribas REIM for £28m.
The properties, sold on behalf of Goodman’s Arlington Business Park Partnership property fund, total just over 400,000 sq ft and are let to electronics giant Panasonic.
The sheds have an average unexpired term of 6.4 years and provide a current passing rent of £2.4m pa.
Jim Johnston, managing director of Goodman UK Business Parks, which manages the ABPP property fund, said: “This is a strategic transaction that reflects our active management of the properties in our portfolio, as we seek to create value and enhance returns for our investors.
“The buildings were identified for sale in order to take advantage of significantly improved pricing within the logistics sector, and as part of a general rebalancing of the portfolio’.
Strutt and Parker advised Goodman; BNP Paribas Real Estate acted for the purchaser.
