- Takes investment in the UK to £170 million over the past five months -
- Highly reversionary, tenant critical asset benefits from excellent road infrastructure -
Clarion Partners Europe, the real estate investment fund manager specialising in European logistics and industrial assets, has acquired, on behalf of its UK-only logistics fund, an institutional-quality logistics facility in Haydock, near Warrington, for £50.8 million. The vendor is Warrington Borough Council.
Constructed in 2019, the 381,146 sq. ft. property is fully let to Movianto UK Limited, a market leading healthcare supply chain service, on a 15-year lease, with a rent review due in July 2024.
Haydock is a prime UK distribution hub, located at the intersection between the M6 and A580 which connects Liverpool (30 minutes' drive time) and Manchester (25 minutes), with 5.3 million inhabitants living within a 40-minute drive time.
Following this transaction, Clarion Partners Europe has invested £170 million on behalf of its UK-only logistics fund in five months, amassing a c. 1,150,000 sq. ft., 11-asset portfolio.
Florina Capraru, Director at Clarion Partners Europe, commented: “Haydock is an outstanding UK logistics location in one of Europe's most densely populated and undersupplied regions, which has experienced significant rental growth outperformance in recent years. With the UK market increasingly characterised by the bifurcation between institutional quality, sustainable properties and everything else, with Grade-A space accounting for 72% of take-up in 2023, the opportunity to acquire a modern, institutional-quality logistics asset further added to the appeal."
Rory Buck, Managing Director at Clarion Partners, added: “This latest acquisition demonstrates our expertise in sourcing compelling investment opportunities across the UK, enabling us to deploy capital at speed into highly reversionary, tenant critical assets leased to blue chip businesses."
Clarion Partners Europe was advised by King Street Real Estate and Gowling WLG. The seller was advised by TLT LLP.
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