Intermediate Capital Group’s real estate arm has acquired a 473,232sqft online fulfilment centre in the UK.

ICG Real Estate said it has bought the Boots distribution warehouse in Burton-on-Trent in a sale and leaseback transaction.

ICG’s SLB Fund is pleased to close the acquisition of Boots’ main online fulfilment centre, adding another mission-critical asset to the portfolio, said Chad Brown, managing director at ICG Real Estate.

Brown said rental growth forecasts in the sector continue to be strong, with the investment structured to benefit from forecast market rental growth, with a base of RPI underpinning performance.

“We continue to seek further opportunities across the UK and Europe, with a focus on mission-critical real estate.”

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