Clarion Partners Europe has acquired an institutional-quality logistics facility in Haydock, near Warrington, for £50.8 mln (€60 mln), on behalf of its UK-only logistics fund.
The vendor is Warrington Borough Council.
Constructed in 2019, the 381,146 ft2 property is fully let to Movianto UK Limited, a leading healthcare supply chain service, on a 15-year lease, with a rent review due in July 2024.
Following this transaction, Clarion Partners Europe has invested £170 mln on behalf of its UK-only logistics fund in five months, amassing a 1.15 million ft2, 11-asset portfolio.
Florina Capraru, director at Clarion Partners Europe, commented: 'With the UK market increasingly characterised by the bifurcation between institutional quality, sustainable properties and everything else, with Grade-A space accounting for 72% of take-up in 2023, the opportunity to acquire a modern, institutional-quality logistics asset further added to the appeal.'
Rory Buck, managing director at Clarion Partners, added: 'This latest acquisition demonstrates our expertise in sourcing compelling investment opportunities across the UK, enabling us to deploy capital at speed into highly reversionary, tenant critical assets, which are leased to blue chip businesses.'
Clarion Partners Europe was advised by King Street Real Estate and Gowling WLG. The seller was advised by TLT.
