Oxenwood Real Estate, acting for Oxenwood Catalina, its joint venture with Catalina Holdings, has acquired a prime logistics facility in Weybridge for €18.3m (£16.4m). The facility, which totals 78,650ft² and is located in West Park Industrial Estate, has been acquired from the occupier Northamber. The building has been leased back to Northamber on a short-term basis to allow the relocation of Northamber’s business.
The acquisition is the third since Oxenwood announced in March the repositioning of the business with a €222.6m (£200m) increase in capital from the company’s long-time investment partner, Catalina Holdings, to take advantage of opportunities arising in the UK and European logistics markets.
Stewart Little, co-founder of Oxenwood, said: “The transaction represents a superb value-add opportunity in the London and south-east market. The property is an excellent facility in a location where we have owned before. During the short-term leaseback period, we will look to identify an occupier with whom we can work to deliver a best-in-class, final mile facility serving south west London and beyond”.