Arrow Capital Partners, the investor and operator of real estate in Europe and Asia-Pacific, announces the acquisition of three units, two at Wakefield Europort in West Yorkshire and one at Point 23 in Haydock, for a total consideration of £11.3 million.
The Wakefield units together provide 63,000 sqft of mid-box logistics space. Situated on the premier distribution park in the North of England, they offer direct access to the M62 motorway and provide excellent transport links between the North East and North West of England. The units are let to Specflue and Paragon Group with a WAULT of c.4 years.
The Point 23 site in Haydock comprises an 82,000 sqft distribution unit, strategically located at the intersection of the A580 East Lancashire Road and Junction 23 of the M6 motorway and is let to Law Distribution until March 2021.
The units provide modern, well-specified accommodation in prime logistics locations, and offer strong income reversion and asset management potential.
Arrow has acquired the sites for its €3bn Strategic Industrial Real Estate (SIRE) platform.
Robert Howe, Head of Real Estate Europe at Arrow, said:
“These acquisitions are part of SIRE’s continued investment in industrial and logistics assets which are benefiting from the rapid growth of e-commerce. We are looking to accelerate our deployment of capital in the UK, with a target allocation of £700m over the next two years and expect to make further announcements shortly as we continue to grow SIRE’s UK portfolio.”
Arrow was advised by LSH for Wakefield and CBRE for Haydock.