In a significant deal for the Thames Valley Advanced Research Cluster (ARC) owned by global alternative asset manager Brookfield, advised by Haslams Surveyors LLP, has sold Reading International Logistics Park in Reading to Graftongate and JP Morgan Asset Management. The sale allows ARC to continue focusing its portfolio on the growing life sciences and technology sectors.
The 8.5 acre site is located next to Junction 11 of the M4 motorway and has detailed planning consent for 161,000 sq ft last-mile urban logistics development of four units, which range from 25,262 sq ft to 67,704 sq ft. Other occupiers in the immediate area include Tesco, DPD, DHL, Yodel, Argos and 3663.
Neil Seager of Haslams said: ”This sale highlights the continued attraction of the Thames Valley urban logistics market to investors looking to take advantage of the region’s excellent transport links and unsatisfied occupier demand. This scheme will provide much needed quality supply in a premium location.”
It is understood that the new owners intend to begin construction on the scheme imminently. Haslams acted on behalf of ARC. Graftongate and JP Morgan were represented by DTRE.
