Arrow Capital Partners has completed the acquisition of a 625,360 sq ft (58,100 m2) multi-storey logistics warehouse at the Wakefield Hub in the UK from Mountpark Logistics EU Sarl for £233 mln (€277 mln).
Once the development phase of Wakefield Hub is complete, the multi-story scheme will have a gross internal area of 2,009,495 sq ft over ground and three mezzanine floors fitted out to operate as an Amazon Robotic Sortable Facility. The long-term lease to Amazon creates a strong covenant with annual rent reviews that are index linked to the consumer price index.
The building is targeting a minimum BREEAM rating of Very Good and an EPC rating of A, incorporating many sustainable features such a photovoltaic panels, electric vehicle charging points, cycle shelters and a bus terminal to facilitate public transport and further minimise carbon emissions.
Commenting on the acquisition, Marty McCarthy, managing partner at Arrow Capital Partners, said: ‘The Wakefield logistics warehouse is a highly attractive core asset, fitted out to the highest specification and secured on a long-term lease to the world’s leading e-commerce business. This is an excellent example of the type of next generation prime logistics facility, key infrastructure like in nature, that are currently being developed to meet the needs of an increasingly complex e-commerce and logistics occupier market.’
He added: ‘By developing multi-storey facilities like this one, we are able to significantly increase the amount of space available to e-commerce businesses in strategically important locations where there is fierce competition for land, while reducing our tenant customers operating costs.’
Arrow has a portfolio of over £2 bn logistics developments and investments located across the UK, Germany, the Netherlands, Spain, Italy, Ireland, Austria and the Nordics.
Arrow was advised by CBRE and Mountpark by JLL.
