Arrow Capital Partners has acquired a 296,500sqft warehouse in South Elmsall, West Yorkshire, for its Strategic Industrial Real Estate (SIRE) joint venture with Cerberus.
The specialist investor, developer and manager of real estate in Europe and Asia-Pacific said the single-let warehouse was acquired from clients of Columbia Threadneedle Investments (CTI) for more than £17m (€20m). The asset comprises a purpose-built cross-docked regional distribution centre benefiting from 11.5m-high eaves and extensive 130m and 55m dual service yards. The property is let to retailer Superdrug and serves a key role in the tenant’s supply chain servicing the north of the UK.
The site is located close to junction 38 of the A1(M), providing swift access to the M1, M18 and M62 motorways and major conurbations including Sheffield, Leeds, Wakefield and Manchester.
Robert Howe, head of real estate for Europe at Arrow Capital Partners, said: “This transaction reflects our ongoing commitment to acquire mission-critical assets offering strong reversionary potential for our SIRE joint venture.
“Our focus remains on identifying and acquiring standing investment and development opportunities that offer strong potential for value creation and sustainable returns for our investors”.
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