Investment firm Abrdn has offloaded a prime warehouse facility in Braintree, Essex to UK logistics company Leftfield in a £23 mln (€27 mln) deal.
The property, located within the Horizon 120 business park, spans 12,808 m2 and serves as a critical hub for British Offsite, a subsidiary of the Weston Group. This company manufactures and distributes components for the new homes sector.
Currently leased by British Offsite for the next 24.1 years at an annual rent of £1.21 mln (€1.43 mln), the warehouse boasts excellent connections to London and East Anglia. Additionally, it holds impressive sustainability credentials with a BREEAM "Very Good" rating and an EPC A designation.
Nico Fourie, at Leftfield said: ‘Leftfield continues to acquire accretive opportunities within the UK Industrial Warehouse sector. This high-specification, south-east located, warehouse comes with attractive rental growth opportunities and is an excellent addition to Leftfield Fund III, a theme-specific portfolio.’
Joel Duncan, Capital Markets director at JLL added: ‘With its prime location, impressive specifications, and significant potential for reversionary growth the property is undoubtedly a valuable addition to our client’s portfolio. Leftfield has positioned themselves to capitalise on future market trends and rental growth in the thriving Braintree area.’
Leftfield was advised by JLL, while Knight Frank advised Abrdn.
