Singapore-based investment firm Elite Partners Capital has purchased a distribution facility in the UK for over £30 million.
The asset is located within Wrexham Industrial Estate, a premier industrial location and one of the largest industrial estates in the UK, well placed to serve both Wales and England. The estate extends to over 550 hectares and is home to over 340 businesses creating employment for over 10,000 people.
The distribution facility, consisting of two detached industrial warehouse facilities, provides in total 723,114 sqft of built up space on a 45.9 acres land. It is fully let to one of the UK’s largest shop-at-home retailers Shop Direct Home Shopping (a subsidiary of The Very Group – a multi-brand online retailer and financial services provider in the UK and Ireland).
Elite Partners said this represents the first UK acquisition for the second series of EPC’s Logistic Funds.
”Riding on its strong track record and the deep network the manager has built over the years, Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK,” the company said.
Victor Song, CEO of Elite Partners Capital said:”We believe that this asset is particularly well-placed to benefit from the highly dynamic logistics market in the UK where the demand for logistics warehouses remains strong and resilient”.
The UK Industrial & Logistics sector has seen an outperformance due to the e-Commerce boom over the years, which was further accelerated by the Covid-19 pandemic.