Aviva Investors has acquired the 713,500 sq ft Leicester Distribution Park (LEDP) for an undisclosed price.
The eight-unit industrial and logistics scheme, which is located 3.5 miles to the east of Leicester city centre, adjacent to the M1, is fully let and was developed in three phases between 2017 and 2022.
Seven of the park’s eight units have an EPC A rating – the final unit is currently under review – and all of the units are BREEAM Very Good rated.
As part of the transaction, Aviva Investors has also acquired a freehold site to the east of LEPD, which currently provides 220 car parking spaces, with the potential for future development.
James Stevens, head of real estate investments at Aviva Investors, said: “This is another example of our ability to act quickly as a strategic buyer whilst also increasing weighting to the highly performing industrial sector. Given the size, quality and location of the asset, this was a rare opportunity to acquire a prime industrial asset located in one of the UK’s premier industrial and logistics markets. With proven occupier demand and the reversionary income potential on offer, we expect it to add good long-term value and performance for our clients.”
