Aviva Investors has bought an urban distribution warehouse at Suttons Business Park, on the outskirts of Reading, Berkshire, for an undisclosed price.
The 210,000 sq ft single-let unit, which is leased to food and distribution company Brakes, features 53 cross-docking bays with space for more than 140 vehicles, an integrated three-storey office facility and a decked 200-space car park.
It has an EPC B rating and BREEAM Very Good certification. There is scope for solar PV panelling to be installed on the rooftop of the unit and decked car park at a future date.
James Stevens, head of real estate investment at Aviva Investors, said: “We are very pleased to have acquired Unit 24, the largest facility in Suttons Business Park. Urban distribution and logistics hubs have remained in high demand, reflecting a permanent structural shift in the use of real estate.
“The repricing of real estate markets during the second half of 2022 represented an opportunity to increase our exposure to prime assets in this sector and deliver increased risk adjusted returns to our investors.”
Aviva Investors was advised by Dowley Turner Real Estate.
