Marchmont Investment Management has teamed up with Pictet Alternative Advisors to buy the freehold for Virgin Atlantic’s training centre in Crawley, for around £30m.
The training hub measures around 220,000 sq ft, on a 10.4-acre site. It was sold subject to a short-term leaseback.
The site, which fronts Fleming Way, will be redeveloped to provide up to 225,000 sq ft of logistics space.
Cameron Fraser, director at Marchmont, said the acquisition formed part of its strategy to build a £200m portfolio of core UK logistics assets.
“We see Crawley as a key south-east market with an under-supply of Grade-A quality mid-box units,” he said.
Marchmont also recently bought four single and multilet estates around Greater London and the South East as part of this strategy.
Cushman & Wakefield advised Marchmont on the Crawley deal, while Virgin Atlantic was represented by SHW.
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