BNP Paribas REIM buys Amazon logistics asset for Asian investor
BNP Paribas REIM is forward funding a UK logistics asset for an Asian investor, investing £125m (€157m) in Amazon’s latest fulfilment centre.
The deal, the company said, the largest single-let distribution centre sale to trade in the UK.
The 1m sqft scheme in Bardon, Leicestershire, is due for completion in September.
Amazon has pre-let the unit on a 15-year lease with fixed increases.
Hugh White, head of National Investment at BNP Paribas Real Estate, said: “As the UK investment market continues to evolve, we are witnessing significant interest from international investors in logistics assets.
“These investors are attracted by the covenant strength, lease length and ever increasing growth in distribution, driven, in part, by e-commerce.
“Effective logistics networks are now evermore essential for retailers to meeting consumers’ need for convenience when shopping online.”
Mountpark is developing the property in a joint venture with USAA.