PGIM Real Estate Finance has provided a £75.6 mln (€88 mln), five-year loan to a group of South Korean investors that have acquired a warehouse located in Leicestershire.
The Bardon Logistics facility, developed by Mountpark, will serve as Amazon UK's newest fulfilment centre, covering almost 100,000 m2. Its acquisition represents the largest ever deal in the UK for a single-let logistics warehouse.
'We're pleased to provide financing for this property as we continue to expand throughout the UK and Europe. It’s particularly exciting to participate in the evolution of online retail delivery in an increasingly fast-paced world,' commented Bryan McDonnell, a principal with PGIM Real Estate Finance and head of the UK office.
'We are pleased to have orchestrated the largest ever acquisition for a single-let logistics warehouse in the history of the UK, demonstrating the strength and breadth of our offer to investors, whilst matching their requirements in terms of its location, build quality and occupier covenant, in what is an increasingly exciting sector of the UK real estate market,' said David Barry, head of Debt Advisory at BNP Paribas Real Estate.
Situated on 20 hectares, the property is one of the larger logistics facilities in the UK. It contains 86 dock high doors and two ground level loading doors, with space to park 225 trucks and 709 cars.
