Knight Frank Investment Management (KFIM) has completed the purchase of a Sainsbury’s distribution hub at Hams Hall, Birmingham, on behalf Korean investors, for £102m.
The 700,000 sq ft property was sold by IM Properties which bought it in 2008 for its Christian Vision fund, with Sainsbury’s signing a 25-year lease. It was built in 2002 and was owned by Sainsbury’s before the deal in 2008.
CBGA secured the property for IM Properties in 2008 for £70m, as part of a Sainsbury's sale and leaseback programme.
Related Articles: CoStar, Property Week