B8 Real Estate, acting jointly with Fiducia Property Asset Management, have completed the sale of a 184,177 sq ft parcel delivery investment situated in a prominent urban location adjacent to Junction 9 of the M62 in Warrington. The property was sold on behalf of clients of CCLA to Arrow Capital Partners.
Arrow Capital Partners has acquired the investment for its $3bn Strategic Industrial Real Estate (SIRE) platform, which invests in strategic industrial/ logistics assets across Europe. The acquisition forms part of a trio of logistics assets also including ones in Banbury and Doncaster and totalling £31.5m.
The subject property is crossed-docked with 365-degree circulation and benefitting from 25 dock level and 5 level access doors, making it ideal for parcel sorting and delivery. It is fully let to Hermes Parcelnet on a lease expiring September 2023 at a rent reflecting £6.54 psf.