Blackstone’s European last-mile logistics arm Mileway has announced the purchase of a portfolio of three properties in London from Cresta Land for an undisclosed amount.
The portfolio totals 235,000 sq ft (21,800 m2) across three properties in Barking (93,000 sq ft), Enfield (51,000 sq ft) and Letchworth (91,000 sq ft). All three occupy prime positions with good transport links, and the assets in Barking and Enfield are ideally located to serve customers who require proximity to consumers in central London.
The properties are occupied by a diverse customer base across a range of sectors, including building materials, utilities, storage, manufacturing and confectionary.
This acquisition follows Mileway’s recent purchase of a 138,000 sq ft newly refurbished, last mile property in Purfleet, East London from DSV.
Philip Cridge, country director UK at Mileway said: ‘Mileway’s portfolio in London and the UK as a whole has gone from strength to strength and we are pleased to continue to acquire high-quality assets in key locations. We see a strong pipeline of opportunities ahead to further build out our coverage across the UK in order to meet the evolving needs of existing and new customers. We’re committed to providing our customers with an exceptional level of service and enabling them to support the consumers and communities that they serve.’
