Clarion Partners Europe has acquired a 381,146 sq ft logistics facility in Haydock, near Warrington, from Warrington Borough Council for £50.8m.
The property, which was constructed in 2019, is fully let to healthcare supply chain business Movianto UK on a 15-year lease, with a rent review due in July 2024.
Clarion Partners Europe has now invested £170m on behalf of its UK-only logistics fund in five months, amassing a circa 1.15m sq ft, 11-asset portfolio.
Florina Capraru, director at Clarion Partners Europe, said: “Haydock is an outstanding UK logistics location in one of Europe’s most densely populated and undersupplied regions, which has experienced significant rental growth outperformance in recent years. With the UK market increasingly characterised by the bifurcation between institutional quality, sustainable properties and everything else, with Grade A space accounting for 72% of take-up in 2023, the opportunity to acquire a modern, institutional-quality logistics asset further added to the appeal.”
Rory Buck, managing director at Clarion Partners, added: “This latest acquisition demonstrates our expertise in sourcing compelling investment opportunities across the UK, enabling us to deploy capital at speed into highly reversionary, tenant critical assets, which are leased to blue-chip businesses.”
Clarion Partners Europe was advised by King Street Real Estate and Gowling WLG. The council was advised by TLT LLP.
