PRESS RELEASE

19 September 2016

BLUE MARBLE ACQUIRES 65,000 SQ FT

COVENTRY DISTRIBUTION WAREHOUSE

 Blue Marble Asset Management (Blue Marble) has acquired a 65,000 sq ft distribution warehouse in Coventry, in an off market deal.

 Acting on behalf of a private client, Edward Jones, Investment Director at Birmingham-based real estate asset management company Blue Marble, has acquired 7030 Middlemarch Business Park, Coventry, CV3 4PE, for £4.35m, reflecting a net initial yield of 7.95 per cent.

 7030 Middlemarch Business Park is a 65,815 sq ft, well specified distribution warehouse in a core location, let to Canute UK Ltd, which recently agreed a new 10 year lease in May 2016.

 Located next to Coventry Airport, and close to junction of the A45 with the A46, Middlemarch Business Park is a well-established business park with high profile occupiers including Royal Mail, Wincanton, Unipart, Gefco, Buck & Hickman and Walkers Snacks. Access to the business park will be further improved by the £110m A45 / A46 Tollbar End Junction improvement scheme, due to be completed towards the end of 2016.

 "This is a flavour of the year distribution warehouse investment deal which we have acquired at a significant discount to other prime deals, reflecting nearly eight per cent in a market sector where yields are ostensibly much lower," says Mr Jones.

 "It is a cracking investment in a good building, in an improving location, where the acquisition is fully underpinned by vacant possession value.

  "This is yet another market-beating deal for Blue Marble where we have identified a high yielding investment opportunity and acquired it off market for our private investor client, for whom we will now implement a very clear business plan to maximise its future performance."

 The Coventry purchase comes hard on the heels of Blue Marble's acquisition of a 23,000 sq ft industrial / distribution unit in Glasshoughton, West Yorkshire, its acquisition of two West Midlands mixed use properties, and its disposal of an investment in a 40,000 sq ft industrial / distribution warehouse in Peterlee, County Durham.

 "There is still good value to be found in certain distribution investments, as there are in other market sectors, but particularly at the current time investment in this sector requires specialist knowledge and insight, and the expertise to work with a client on a long term basis to unlock further value," continues Mr Jones.

 Based in in the heart of Birmingham's Colmore Business District, Blue Marble Asset Management presently has more than £60 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic view of each of its property investments. Blue Marble Asset Management can be contacted on tel. 0121 272 4949 or email. ejones@bmassetmanagement.co.uk or via www.bmassetmanagement.co.uk.

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