Aviva Investors has provided £90m (€92.4m) to fund the development of a pre-let distribution unit in northwest England.
The asset manager said the capital will be used to develop the distribution unit at Omega Business Park in Warrington pre-let to Iceland Foods on a 20-year lease.
James Stevens, head of real estate investment at Aviva Investors, said: “We are pleased to complete a deal which extends our programme of development across the UK, particularly on a high-specification asset in one of the country’s strongest logistics locations.
“The credentials and partnership with a high-quality developer and leading occupier serving an essential sector of the economy, give us confidence that it will deliver strong sustainable income returns over the long-term.”
The latest deal follows an announcement last month that Aviva Investors had completed the letting of a 133,000sqft unit at Swan Valley Industrial Park in Northamptonshire, following a speculative development which reached practical completion in July.
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