Savills - Retail Sale - Solihull, Oakenshaw Road

Date: 04 Jul 2008

Lanebridge, advised by Savills, has purchased a retail warehouse investment at Oakenshaw Road in Solihull for £4.9 million from Royal London, reflecting a net initial yield of 6.31%.

The 13,470 sq ft (1,251 sq m) property is split into two retail units currently occupied by Magnet and Multiyork with leases expiring in 2021 and 2022 respectively. The current annual passing rent equates to £326,784.

Located adjacent to Sears Retail Park and Solihull Retail Park, the property sits within a primary out of town retail destination for south-east Birmingham.

Royal London were represented by Montagu Evans.

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