Real estate investor Arrow Capital Partners has acquired a logistics property in Bolton, for its €3 billion Pan European Strategic Industrial Real Estate (SIRE) platform.
The 431,00 sqft logistics property in Bolton is fully let to Essity, the global health company, and is situated on the M61 industrial corridor providing direct access to the M60 Manchester Ring Road and in turn the M62 to Liverpool.
“This acquisition is part of SIRE’s strategy of investing in industrial and logistics assets with income reversion, vacant assets with strong lease up potential or selective build to own strategies. Our successful focus is on locations across Europe’s major cities and strategic transport hubs that are benefitting from structural trends in urbanisation and e-commerce growth. We have completed or secured €400m in assets in our first 10 months, with the UK a core market of focus. We are looking to accelerate our deployment of capital in the UK with a target allocation of £700m over the next two years,” said Katherine Parker, Partner, Head of Investment Management Europe, Arrow Capital Partners.
“The asset is let to a blue-chip occupier off a low base rent, with significant future development potential. As a superbly located 17-acre site providing access to over 20 million consumers within a 2-hour drive time, the acquisition is an excellent fit to our SIRE strategy given the continued strength of demand arising from the rapid growth of online fulfilment. We are actively seeking both standing investment assets and development opportunities, with further announcements to follow shortly as we continue to grow SIRE’s UK industrial & logistics portfolio,” said Oliver Bowditch, Investment Manager at Arrow Capital Partners.