A pair of Warrington warehouses have been bought as part of a wider portfolio in an £18.6m deal.
The first snapped up by Warehouse REIT is 1 Kingsland Grange, a 71,000 sq ft property on the Kingsland Grange Business Park. It is let to a global supplier of plastic compounds.
Milner Street – a 42,000 sq ft multi-let site located in the heart of the Bank Quay Gateway Quarter – has also been snapped up. It is fully let to Selco Trade Centres and UK Storage Company.
The remaining two warehouses are in Droitwich Spa and Rugby.
The listed group has now completed £163m worth of acquisitions since its capital raise in July.
Andrew Bird, managing director of investment adviser Tilstone Partners, said: “We are pleased with this latest addition to the company’s portfolio, which represents an increasingly rare opportunity to acquire a strategic portfolio of assets, in tactical last mile distribution locations, capable of serving the growing e-commerce demand benefitting from ease of access to major UK conurbations in the North West and West Midlands regions.
“Furthermore, a number of lease events offer the opportunity to increase the longevity and quality of income over the short and medium term.”
Recent Comments