Savills Investment Management has acquired a £161m (€186.5m) UK fulfilment centre from BNP Paribas Real Estate Investment Management (BNP Paribas REIM).
BNP Paribas REIM, acting on behalf of Vestas Investment Management acquired the 1m sqft single-storey Amazon fulfilment centre in Bardon for £125m in 2016.
Benoit de la Boulaye, the head of BNP Paribas REIM UK, said: “We are very pleased to close the first successful investment on behalf of Vestas, who has been a partner of choice for us over the last few years.
“It demonstrates our group’s capacity to support institutional investors in building out-performing, diversified Core Portfolios in the UK and continental Europe.”
Jedeok Lee, senior manager for Vestas Investment Management, said: “The conclusion of this investment with BNP Paribas REIM has delivered a strong performance and we are pleased to work with them as a partner, benefiting from their local knowledge and expertise for our real estate investment programme across Europe.”
Jack McCarron, investment director for BNP Paribas REIM UK, said: “Delivering a transaction of this scale for overseas investors, when travel is severely restricted has presented challenges.
“However, our divestment strategy was able to take advantage of the strong appetite from global capital for the UK market in general and core long income assets in particular.”
To read the digital edition of the latest IPE Real Assets magazine click here.
