EPISO 5, a fund advised by pan-European investment manager Tristan Capital Partners, has acquired off-market a portfolio of 11 prime, new-build logistics buildings in the United Kingdom, for c.€76.2m (£68m). The vendor is the Richardson family. The portfolio comprises 668,000ft² across three logistics sites in Redditch, Kettering and Avonmouth.
The assets are all high-quality and are currently vacant with the exception of Redditch, which has one tenant. The buildings were recently developed by Richardson and have been finished to a high standard with specifications that appeal to modern occupiers.
Nicho Jenkins, Managing Director at Tristan Capital Partners, said: “The coronavirus crisis has accelerated e-commerce trends in the UK, resulting in a surge in occupational demand for strategically located warehouses. The UK is suffering from a limited supply of new logistics buildings and the modern, flexible space offered by these recently developed assets has already attracted strong interest from a variety of potential occupiers. Our plan is to lease up the vacant space and pursue similar opportunities to potentially build out a UK logistics portfolio.”
