Niche Birmingham investment practice Franck-Steier Price has completed twelve property investment transactions in the 3rd quarter of the year in a busy three months for the firm.
The company advised on the purchase of two prime buildings in Nottingham Browne Jacobson solicitors’ new HQ at Mowbray House, and the mixed use office and residential Southreef development on Canal Street. The deals totalled £12.75 million.
FSP continue to also remain active in the convenience store sector having purchased a Sainsbury’s Local in Durrington for Local Shopping REIT and sold three Sainsbury’s Local investments in Wordsley, Nottingham and Harrogate. Harrogate achieved one of the strongest yields paid in the UK this year for Sainsbury’s new lease format at 5.17%.
In the industrial sector the firm have sold single let units on Bartleet Road in Redditch and Centre 500 in Stoke on behalf of CBRE Global Investors and St Modwen respectively, an industrial estate in Norfolk for Hansteen and an industrial/trade estate in Aston, Birmingham, on behalf of a private client.
Retail deals included a retail warehouse in Stockport let to Go Outdoors which was acquired jointly with Thompson Heaney and a veterinary practice investment in Birmingham, both were acquired for private investors.
FSP has also exchanged on three development fundings including a Premier Inn hotel in Dudley and an industrial unit let to West Midlands Ambulance Service for Custodian Capital and a McDonalds Drive-Thru in South Normanton for a private client. With a further eight transactions in solicitors hands FSP hopes it will continue to be a busy run in to the end of the year.
