Schroders Capital’s real estate team has finalised the sale of Unit 3C at Hams Hall Distribution Park in Birmingham – on behalf of the Schroders Capital UK Real Estate Fund (SCREF) – to URBZ Capital – on behalf of its capital partner Ivanhoé Cambridge – for an undisclosed price.
SCREF acquired the 177,800 sq ft warehouse in October 2021 as part of a £345m industrial swap deal with SEGRO. The unit is let to DHL Supply Chain, which manages the Selfridges contract from the facility, until August 2026.
Rob Cosslett, fund manager at Schroders Capital, said: “The sale of Hams Hall is inline with SCREF’s strategy of divesting out of assets upon the completion of the business plan. The price achieved reflects the demand for well-located industrial assets in the UK as well as the asset management capabilities of the wider Schroders Capital team who managed to secure a strong uplift at the recent rent review with a leading occupier, making the asset more attractive to institutional buyers.
“We are always looking to create long sustainable income and deliver value to our investors. The returns delivered by the sale of Hams Hall will support committed capital expenditure initiatives across the existing portfolio to increase value and to further grow our allocation to multi-let industrial assets.”
SCREF was advised by Gerald Eve. DTRE acted on behalf of URBZ Capital.
