Global logistics property group Prologis has completed the sale of a 111,000 m2 portfolio of UK industrial property to Henderson UK Property fund for an undisclosed amount.
Global logistics property group Prologis has completed the sale of a 111,000 m2 portfolio of UK industrial property to Henderson UK Property fund for an undisclosed amount.
Known as Project Click, the portfolio includes four distribution buildings in Crewe, Corby, Bristol and Peterborough. The properties are fully leased, and the average unexpired lease term is over nine years.
'We are delighted that Project Click has attracted so much interest,' said Andrew Griffiths, managing director at Prologis UK, which carried out the deal on behalf of two pan-European managed ventures. 'The facilities in the portfolio are stand-alone buildings in good distribution locations, and we are pleased to have completed this transaction.'
Robin Hutchinson, from TH Real Estate, commented: 'The purchase of the Click portfolio is in line with the fund strategy of buying strong core income assets. We expect the sector to perform well in the future given the supply demand dynamics of logistics in the UK.'
Prologis owns and manages approximately 25 million sq ft of logistics and distribution space in the UK as of end-September 2015.