Investcorp’s European Real Estate business has acquired a prime logistics facility in Scotland totaling approximately 333,000 sq ft from a UK institution for £23.2 million.
The property is located on Eurocentral, Scotland’s premier distribution and logistics location, and benefits from its own railway siding which connects to the adjacent Euro Freight Terminal.
The property, which is let to GXO Logistics, a world leader in logistics solutions, is comprised of a purpose-built, high-quality warehouse of approximately 304,000 sq. ft., an office of 22,000 sq. ft. and an external canopy of 7,000 sq. ft.
The importance of the location for the UK logistics sector, robust tenant, and high-quality real estate, all underscore the potential of the investment.
Investcorp sold 10 UK industrial assets in January 2022 for a total of £108.4 million. Investcorp recently acquired a warehouse facility in Saudi Arabia, and its global portfolio now exceeds $3.5 billion in the United States.
Neil Hasson, Head of Investcorp European Real Estate, said: “This latest acquisition of a prime logistics facility aligns with our strategy to focus on UK logistics assets. High occupier demand and constrained supply are creating attractive investment opportunities. We continue to monitor opportunities in the UK logistics and industrial sector as well as actively manage our portfolio for the benefit of our investors.”
Tom Martin, Investcorp European Real Estate, added: “We are very excited to close the acquisition of another UK logistics facility. It is a key asset that is well connected to important transport infrastructure and is in a market with strong occupational fundamentals. We believe this will provide resilient and inflation-protected income as well as opportunities for capital upside.”
