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Knight Frank IM to offload trio of Midlands sheds

Knight Frank Investment Management has put three warehouses on Apex Park in Daventry, Northamptonshire, up for sale for offers over £47.9m.

The price reflects a net initial yield of 5.25%. Knight Frank IM bought the buildings from Prologis in 2016 for £36.7m. 

The warehouses, known as DC 1, DC2 and DC6, measure a combined 401,760 sq ft.

According to Radius data, DC1 is occupied by IT services provider Ingram Micro, DC2 is a home to plant-based ingredients manufacturer CSM Bakery, and DC6 is let to agriculture and construction equipment supplier CNH. The lettings are for an average rent of £6.68 per sq ft.

Occupiers on the wider park area include Hellmann Worldwide Logistics, Cummins, Toolstation, Wetherspoon and Ingram Micro.

Knight Frank is running the sale process.

 

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