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Chloe Shakesby

London real estate investor acquires "superbly located" logistics property for undisclosed amount

A London real estate investor has announced that it has acquired a strategic logistics asset for an undisclosed amount.

Arrow Capital Partners, an investor and operator of real estate in Europe and Asia-Pacific, has acquired the Bolton property for its €3bn Pan European Strategic Industrial Real Estate (“SIRE”) platform.

The 431,00 sq ft property is fully let to Essity, the global health company, and is situated on the M61 industrial corridor.

Katherine Parker, partner and head of investment management Europe at Arrow Capital Partners, commented: “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.”

Oliver Bowditch, investment manager at Arrow Capital Partners said: “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 and logistics portfolio.”

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