Another logistics investment from Clarion (GB)

Warehouses in Widnes, UK

Clarion Partners Europe (Clarion) has acquired three distribution warehouses in Widnes, UK on behalf of a commingled fund client.


With a combined area of c. 65,000m2, the newly constructed facilities were purchased from KKR Real Estate Partners Europe II Fund and Mirastar. The investment marks Clarion Partners Europe's second venture in the UK in 2023. All properties have obtained EPC A and BREEAM Excellent certification sustainability ratings, in line with Clarion's strong commitment to ESG.


The properties were constructed in two phases throughout 2022. Through well-developed road links, Widnes benefits from excellent connectivity to major Northern cities including Manchester and Liverpool.


Phase I comprises a single-tenant c. 29,000m2 property which is let to Supply Chain Coordination Limited, which manages the NHS supply chain operations and is wholly owned by the UK’s Secretary of State for Health and Social Care.


Phase II totals c. 29,000m2 across two units. The larger c. 24,000m2 unit is let to Kammac Limited, a 3PL operator. The remaining c. 5,000m2 unit is currently vacant with solid interest from several potential occupiers.


Matthew Tatlock, Vice President, Clarion Partners Europe, commented: “Widnes, being a prime logistics destination, enjoys robust occupier demand and offers the advantage of proximity to two major regional metropolitan areas in the UK. This favourable location has limited availability and a muted development pipeline, creating an environment for future rental growth.


Rory Buck, Managing Director, Clarion Partners Europe, added: “We believe that the UK logistics market currently represents an attractive investment opportunity. We have significant firepower to deploy into the market. As we expand our portfolio, our focus remains on acquiring newly developed, sustainable and high-quality logistics assets, leased to strong counterparties in locations benefiting from limited supply and upward pressure on rents.


Clarion Partners Europe was advised by Gerald Eve and Goodwin Procter. The seller was advised by DTRECBRE, Clifford Chance and Osborne Clarke.

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