European Logistics property group Chancerygate has acquired a 825,000sqft UK facility from Columbia Threadneedle for an undisclosed sum.
Chancerygate has acquired Manchester Airport’s World Freight Terminal multi-let industrial (MLI) estate comprising 64 units across 17 buildings, along with standing accommodation and a development plot with planning consent.
World Freight Terminal is 95% occupied, with 39% of floor space developed within the last five years and a further 13% refurbished within the last 12 months.
Simon Cowley, head of investment management, Chancerygate, said: “World Freight Terminal provides a diversified and complementary blend of long income logistics facilities, MLI units and future development opportunities, supported by an airport-linked occupier base. It benefits from exceptional tenant demand and aligns perfectly with Chancerygate’s investment strategy over the past 12 months of targeting dominant regional MLI estates.
“This sees us able to execute clear value-add initiatives, with short-term access to reversionary income and the ability to unlock longer-term development potential.”
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