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Picton disposes of ‘golden triangle’ DHL warehouse for £15.9 million

18 02 20 magna park
By Michael Kershaw and Rebecca Allen

Warehouse has undergone asset management while under ownership of Picton Property Income Limited


Picton Property Income, represented by Colliers International, has sold Unit 3220 on Magna Park Lutterworth to CCLA for £15.9 million, reflecting a net initial yield of 5.78 per cent.

The 159,956 sq ft distribution warehouse is fully let to DHL Supply Chain Ltd until 2024 with a tenant break option in 2022 and generates a passing rent of £980,699 per annum. Magna Park in Leicestershire is within the ‘golden triangle’ for logistics and is a well-established industrial location, home to 24 occupiers including Lidl, Asda, Renault and Eddie Stobart. 

Michael Kershaw, director of industrial and logistics investment at Colliers International, commented: “The disposal of the unit at Magna Park is the result of a successful programme of asset management by Picton. Well located and with a strong covenant there was high demand for the asset, as appetite from investors for distribution warehouses continues unabated.”

Joiner Cummins represented CCLA. 

 
Related Experts
Michael Kershaw | Colliers | London - West End

Michael Kershaw

Director

National Capital Markets

London - West End

+44 20 7344 6808
+44 7834 083126
Email

Michael is a Senior Director in the National Capital Markets team.  Michael joined Colliers International in mid-2010.

 

Michael has worked as an investment specialist for over 15 years.  Throughout that time Michael has focussed on Industrial, Office and Mixed Portfolio Investment work UK wide.  Michael is also experienced in undertaking Sale & Leaseback transactions on behalf of Corporate Clients. 

 

Based in Colliers Central London office Michael works closely with investment, agency and professional colleagues in both London and the Colliers International regional offices throughout the UK. 

 

Michael’s major investment clients include UK and International Institutions, Property Companies and High Net Worth individuals including Legal & General, Aberdeen Standard, Clipstone Land, Ascendas Singbridge, Gazeley, Peel Logistics, The Cording Group, Gramercy, The Milton Group and Colliers Capital amongst others. 

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Rebecca Allen | Colliers | London - West End

Rebecca Allen

PR Manager

Marketing & Communications

London - West End

+44 20 7344 6846
+44 7724 815883
Email

I have been working in commercial property communications for almost 10 years  having previously worked at CBRE and most recently Savills.

In my role at Colliers I am responsible for the PR of national capital markets, London agency and capital markets teams and investment property management.

My role includes:

  • Creating and exectuing PR plans for business lines that span press, marketing and digital channels
  • Media monitoring and reporting
  • Journalist relationship building through face to face meetings, phone calls day to day assistance with stories
  • Reputation management of the Colliers brand

 

 

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