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Glenstone purchases prominent industrial site in Birmingham

Posted on May 18, 2023

Glenstone announce the purchase of a prominent industrial site located close to the M6, to the north-east of Birmingham City Centre.

Comprising approximately 45,000 sq. ft., the unit is let in its entirety to E & S W Knowles & Company Ltd on a new 20-year FRI lease. Knowles are the UK's leading manufacturer of timber fire safety and security doors.

The property was purchased via a Company sale for approximately £3m reflecting a Net Initial Yield of circa 9%.

Managing Director Ben Green commented “The property has been purchased in line with our current strategy of buying well located assets off a reasonable capital value.”

Glenstone continue to actively pursue corporate transactions.