Realterm has acquired a 41,800 SF parcel delivery facility located on a 85,000 SF site in Manor Royal Business District, County Oak Way in Crawley, U.K.
The parcel delivery facility services the South London market and is situated in immediate proximity to Gatwick Airport.
The property is currently fully leased to U.K. 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.
“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.”
Manor Royal Business District is strategically 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. Crawley is just 40 miles from the center of London, with excellent public transit options including rail and bus service.
“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.”