Hines has acquired five UK logistics sites in two separate transactions on behalf of its Hines European Core Fund (HECF) and Hines European Property Partners (HEPP) fund for an undisclosed price.
HECF acquired 13,285 sq m (circa 143,000 sq ft) of space in London located on freehold land just across the cargo gate at Heathrow airport and HEPP snapped up an off-market, fully occupied four asset portfolio, marking its first UK acquisition, which spans 42,734 sq m (circa 460,000 sq ft), located across Yorkshire – Normanton (pictured), Doncaster, and Sheffield.
Greg Cooper, managing director – UK logistics at Hines, said: “Despite the current macroeconomic climate, we continue to see high levels of occupier demand for best-in-class logistics space in supply-constrained areas across the UK.
“Both acquisitions underpin our long-term strategy and conviction in the logistics sector focused on the right opportunities in the best locations, where we can utilise our on-the-ground logistics expertise to drive added value. We continue to actively seek these opportunities to scale up our exposure to UK logistics and deliver value for our clients.”
