B8 Real Estate, acting jointly with Fiducia Property Asset Management, have completed the sale of a 184,177 sq ft parcel delivery investment situated in a prominent urban location adjacent to Junction 9 of the M62 in Warrington. The property was sold on behalf of clients of CCLA to Arrow Capital Partners.
Arrow Capital Partners has acquired the investment for its $3bn Strategic Industrial Real Estate (SIRE) platform, which invests in strategic industrial/ logistics assets across Europe. The acquisition forms part of a trio of logistics assets also including ones in Banbury and Doncaster and totalling £31.5m.
The subject property is crossed-docked with 365-degree circulation and benefitting from 25 dock level and 5 level access doors, making it ideal for parcel sorting and delivery. It is fully let to Hermes Parcelnet on a lease expiring September 2023 at a rent reflecting £6.54 psf.
Simon Wood, Director at B8 Real Estate commented “the property was recently vacated by Royal Mail and immediately relet to Hermes which is testament to the location and strength of demand from this area of the market. The resulting investment interest was huge leading to the sale to Arrow. B8 and Fiducia are very pleased to have been involved throughout providing advice on the letting, asset management and sale for our clients CCLA”.
CCLA were represented by B8 Real Estate and Fiducia Property Asset Management.
Arrow Capital Partners were represented by the Manchester office of CBRE.
For further information contact:
Simon Wood: 07793 119210 – simon@b8re.com
David Edwards: 07921 234024 – de@fiduciapam.com
Rob Woods: 07826 278439 – robert.woods@cbre.com
Oliver Bowditch: 07828 499791 – oliver.bowditch@arrowcapital.co.uk