M&G Real Estate acquires GBP94m logistics portfolio
M&G Real Estate has completed the acquisition of a GBP94 million UK logistics portfolio from Mountpark Logistics EU, a leading developer of industrial and logistics property. The deal was made on behalf of M&G Real Estate’s Capital Solutions clients.
The portfolio comprises five, recently developed buildings all situated in key distribution locations with the largest parts of the portfolio in South East England and the strategically important “Golden Triangle” area in the Midlands - home to some of the UK’s largest manufacturers, national retailers and distributors. All units are fully-let with an average unexpired lease term of over 15 years.
Martin Towns, Head of UK Commercial & Capital Solutions at M&G Real Estate, says: “Investor demand for UK logistics assets remains robust, propelled by above average occupier demand, low vacancy levels and limited levels of new development so we don’t anticipate competition for assets moderating any time soon.
“With the support of our specialist sector teams, we look forward to helping existing and future clients around the world to secure direct real estate exposure to support their financial objectives.”
Philip O’Callaghan, Managing Director, UK and Ireland Developments at Mountpark, adds: “We are delighted to have completed this off-market transaction with M&G Real Estate. Mountpark speculatively developed and let all five properties over the last three years, and we are pleased they have attracted so much interest.”