Blackstone’s last-mile logistics arm Mileway has bought three properties in London from Cresta Land, which are understood to have sold for around £45m in total.
The portfolio totals 235,000 sq ft across three properties in Barking (93,000 sq ft), Enfield (51,000 sq ft) and Letchworth (91,000 sq ft).
Mileway highlighted that the Barking and Enfield properties in particular were picked for their proximity to consumers in central London.
The properties are occupied by tenants in a range of sectors including building materials, utilities, storage, manufacturing and confectionary.
Philip Cridge, country director for the UK at Mileway, said: “We see a strong pipeline of opportunities ahead to further build out our coverage across the UK in order to meet the evolving needs of existing and new customers.”
This acquisition follows Mileway’s purchase of a 138,000 sq ft last mile property in Purfleet, East London from DSV last month.
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