DTZ Investors Seals £8 Million Sale of Cranham Industrial Estate
Deal News | Nov 12, 2024 | DTZ Investment Management Ltd
DTZ Investors has successfully completed the sale of Cranham Industrial Estate in Worcester to Chancerygate/JR Capital for £8 million, achieving a net initial yield of 5.90%. This 67,846 sq ft estate, comprising 17 units leased to 11 tenants including Royal Mail and Bayliss, is positioned strategically near Junction 6 of the M5, offering direct access to Birmingham and Bristol. The asset sale, characterized by competitive investor interest and managed by Cushman & Wakefield on behalf of DTZ, highlights robust demand in the UK's industrial investment market despite constrained supply. DTZ Director, Tom Royston, remarked that the sale aligns with the fund's strategy to crystallize strong performance and reinvest proceeds into accretive opportunities. Gerald Eve acted on behalf of the buyers, Chancerygate/JR Capital.
Sectors
- Real Estate
- Industrial
- Investment Management
Geography
- United Kingdom – The entire transaction, including the property and involved companies, is based in the UK.
- West Midlands – The Cranham Industrial Estate, located in Worcester, West Midlands, is the site of the transaction.
Industry
- Real Estate – The transaction involves the sale of an industrial estate, directly related to the real estate sector.
- Industrial – The article discusses a multi-let industrial estate, which is part of the industrial sector in terms of property use.
- Investment Management – DTZ Investors, an investment management firm, is engaging in this real estate transaction.
Financials
- £8 million – The sale price of the Cranham Industrial Estate.
- 5.90% – Net initial yield achieved from the sale.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DTZ Investors | Seller | Company | An investment management firm that manages various real estate assets. |
| Chancerygate / JR Capital | Buyer | Company | Real estate investment firms acquiring the Cranham Industrial Estate. |
| Cushman & Wakefield | Advisor to DTZ Investors | Company | A global real estate services firm providing advisory support for the sale. |
| Gerald Eve | Advisor to Chancerygate | Company | A property consultancy firm advising the buying party. |
| Royal Mail | Tenant | Company | A major postal service company occupying one of the units in the estate. |
| Bayliss | Tenant | Company | Another tenant occupying space within Cranham Industrial Estate. |
| Tom Royston | Director | Person | Director at DTZ Investors overseeing the strategic sale. |
| Chris Robinson | Partner | Person | Partner at Cushman & Wakefield commenting on the transaction's success. |