Specialist investor, developer, and real estate manager Arrow Capital Partners has purchased a distribution warehouse in South Elmsall, UK, for over £17 mln (€20.2 mln).
Arrow Capital Partners acquired the asset for its Strategic Industrial Real Estate (SIRE) joint venture with Cerberus from a client of global asset manager Columbia Threadneedle Investments.
A 27,546 m2 purpose-built warehouse is located on a 7.3-hectare site in West Yorkshire and benefits from 11.5m eaves height and extensive 130m and 55m dual service yards. It is on a long-term lease to health and beauty retailer Superdrug Stores.
Daniel Walker, director GV&Co, said: ‘This is a high-quality, mission-critical asset located close to the A1M, as well as offering easy access to the M62 and M1, making it an integral part of Superdrug’s distribution network. We are pleased to have secured the off-market sale to Arrow and complete the final part of our client’s asset management strategy for the property.’
Robert Howe, head of real estate, Europe, at Arrow Capital Partners, added: ‘This transaction reflects our ongoing commitment to acquire mission-critical assets offering strong reversionary potential for our SIRE joint venture. Our focus remains on identifying and acquiring standing investment and development opportunities that offer strong potential for value creation and sustainable returns for our investors.’
Columbia Threadneedle Investments was advised by Leeds-based GV&Co, while M1 Agency advised Arrow Capital Partners.
