National commercial property consultancy Lambert Smith Hampton (LSH) has pulled off the biggest Midlands industrial property deal of the year to date with the acquisition of a nationwide £60.5 million industrial portfolio.
The Birmingham office of the property firm acted alongside other offices for a Scottish Widows Investment Partnership to acquire the St Martins industrial portfolio.
The deal, named Project Blue, includes major multi-let industrial estates including significant industrial space in Oldbury and two sites in Minworth. Centurion Properties are managing the assets on Scottish Widows Investment Partnership’s behalf.
Other sites in the portfolio are the Lakeside Industrial Estate in Colnbrook, The Elms in London, the St Martins Business Centre in Bedford predominantly occupied by Fujifilm (UK), the Lawnhurst Trading Estate in Stockport and the Kinning Parkway Estate in Glasgow.
Ian Kibble, head of LSH’s Birmingham office said: “The client has benefited from LSH’s network of offices across the country, specifically Birmingham, London, Glasgow, Manchester and Luton.
“During the acquisition process latent value was identified in several of the sites.
“We are now working with Centurion to manage the estate proactively and release this value for the benefit of our clients.”