M&G Real Estate has completed the acquisition of a £94m UK logistics portfolio from Mountpark Logistics EU, a 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 the South East 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 more than 15 years.
Assets include Mountpark Southampton, Phase 1; Unit 2 in Bardon, East Midlands; Mountpark Wakefield.
Martin Towns, head of UK commercial & capital solutions at M&G Real Estate, said: “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.”
DTRE and CBRE advised Mountpark.
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