Prologis has confirmed it has put 22 UK logistics properties up for sale for a guide price of £435 mln (€482 mln).
Prologis said the UK ‘Platform’ portfolio comprised part of 34 million sq ft of non-strategic space which it had acquired when the logistics giant took over Liberty Property Trust earlier this year for $12.6 bn in an all-share deal.
The Platform annual rental income is £25 mln and includes tenants Tesco and Srewfix, according to a report last week in The Times. The properties are mainly standalone stores rather than parks.
London-based European logistics specialist DTRE has been mandated to sell the portfolio.
While the opportunity is one of the largest UK industrial and distribution portfolios to come to market, it is small beer for the vendor. Prologis swallowed Liberty following its acquisition of another US-based industrial company, IPT, in July 2019.
Prologis is now the largest logistics owner in the world with real estate in 19 countries.
