Knight Frank Investment Management (KFIM) has invested £56m (€64.5m) in a UK warehouse for Korean investors.

The warehouse, in Crewe in the north west of England, is let to BAE Systems.

Kevin Aitchison, chief executive of KFIM, said: “A couple of years ago we made a strategic decision to establish new partnerships within the Korean institutional market.”

The deal, he said, is KFIM’s first for the Korean clients.

“The transaction is another significant step forward in achieving our long-term business plan and we are confident that this will be the first of many transactions for investors from the region,” he said.