LaSalle Investment Management has announced that Harris Lamb, which acted on its behalf, has sold the Titan Business Centre in Warwick for £9.875 million (approx. 11.3 million).
The 135,162 ft² (approx. 12,500-m²) 10-unit industrial center was sold to clients of CB Richard Ellis Investors ('CBREI').
Peter Wood, Director at Harris Lamb, commented: "Compression in yields on the South East industrial sector has led to increased institutional demand for prime Midlands real estate and we caught this wave when there was limited stock in the market."
Terry Rice, Associate Director at LaSalle Investment Management, said: "We are delighted to have agreed the sale of the Titan Business Centre for nearly £10 million."
Built in 1989, the Titan Business Centre is situated on the southern boundary of the Tachbrook Park Business Park development to the south of Leamington Spa town center and is approximately three miles from Junctions 13 and 14 of the M40 Motorway. Leamington Spa and Warwick town centers are each approximately two miles distant.
Maclaren and Partners advised on the deal.
Source: Citigate Dewe Rogerson