SEB Asset Management has taken advantage of favourable market conditions to re-enter the British market. It has acquired a grade A logistics property in the central logistics location of West Moor Park in Doncaster from a private group of investors for its SEB ImmoPortfolio Target Return Fund (ISIN: DE0009802314) mutual fund. Constructed in 2003 and extended in 2005, the building has a leasable area of around 70,000 m² that is let to British clothing chain Next Group plc until 2023. The total investment amounted to the equivalent of approximately €63 million.
Doncaster is located in the heart of South Yorkshire and is a key British logistics location due to its good strategic position that offers a variety of transport links. In addition to Robin Hood Airport and the Humber Port in the immediate vicinity, direct access to the A1 and M18 motorways ensures excellent connections.
SEB had already sold off its UK portfolio twice in past years