The Birmingham office of global property consultancy Knight Frank has acted on behalf of Nene Group Plc on the sale of Nene House & Logistics House in Daventry for £21.125m. The property was purchased by Urban Logistics REIT Plc (‘ULR’) represented by M1.
Nene House & Logistics House is a prime 9.93-acre freehold site with an estimated net income of £1,104,937 per annum. The site offers two well specified logistics units of 83,447 sq ft and 77,752 sq ft respectively and a self-contained warehouse providing 8,147 sq ft of office space.
Daventry is considered a prime location due to its position and proximity to the M1. The main two logistics facilities are let to Ceva Logistics on a lease expiring in 2027 with a break clause this year. The offices are multi let Ceva Logistics Ltd and Future Homeway Ltd to name a few.
Ashley Hudson, Partner and Head of Knight Frank’s Birmingham office, comments: “We’re delighted to announce the sale of Nene House & Logistics House. As investors continue to actively target industrial assets, this sale is another prime example of current trends and what is being highly sought after in the market. Confidence in quality industrial space remains high with UK industrial investment volumes in 2021 totalling £16.9 billion, £3.1bn of which was invested into the Midlands region. We do not anticipate this trend slowing in 2022.”