Independent global investment manager Realterm has acquired a parcel delivery facility in Crawley, UK, situated at Manor Royal Business District.
Financial details were not disclosed.
The 41,800 ft2 (3,880 m2) parcel delivery facility is located on an 85,000 ft2 site at the district on County Oak Way, Crawley. The parcel delivery facility services the South London market and is situated in immediate proximity to Gatwick Airport.
'Transport, storage and parcel shipping are all fast-growing industries in this part of the United Kingdom, and it’s exactly the type of logistics market we look to invest in,' said Balazs Lados, managing director and fund manager, Realterm.
'This property’s functionality, terrific location and upside potential are ideal, and it is a compelling addition to our European portfolio.'
The property is currently fully leased to UK parcel and delivery service, Yodel, and processes approximately 15,000 parcels per day. It is well-positioned for parcel, air freight and food & beverage users, with last-mile commerce and parcel operations for DPD, DHL, UPS, FedEx and Royal Mail all located within the same complex.
Manor Royal Business District is located within three miles of London’s Gatwick Airport, and neighboring tenants in the Crawley market include Boeing Flight Services, Virgin Atlantic and Wesco Aircraft.
'Given the market’s strong tenant demand and connectivity to local highways as well as Gatwick airport, we feel confident in this facility’s long-term attractiveness,' said Jon Chalkley, head of investments and business development, Europe, Realterm.
'Crawley’s competitiveness and supply constraints, as well as its vicinity to labor pools and end consumers ensure the property’s growth prospects for years to come.'
