Aviva Investors has completed the purchase of Leicester Distribution Park (LEDP), an industrial and logistics asset spanning more than 66,472m2. The eight-unit scheme is fully-let and was developed in three phases between 2017 and 2022.
Aviva Investors is focusing on sustainability and LEDP is a part of that. LEDP has strong ESG credentials with seven of the eight units having an EPC A rating, and the final unit is currently under review. All the units have BREEAM Very Good ratings.
LEDP is well-connected and is located just 5.6km east of Leicester City Centre. It's adjacent to the M1 motorway, which is the UK's most important logistics corridor and the primary north-south freight route. The proximity to the M6 and A14 is another added advantage.
As part of the transaction, Aviva Investors has also acquired a freehold site located directly to the east of the asset. This site currently provides a 220-space car park, with potential for future development.
James Stevens, Head of Real Estate Investments at Aviva Investors, said: “This is another example of our ability to act quickly as a strategic buyer whilst also increasing weighting to the highly performing industrial sector. Given the size, quality and location of the asset, this was a rare opportunity to acquire a prime industrial asset located in one of the UK’s premier industrial and logistics markets. With proven occupier demand and the reversionary income potential on offer, we expect it to add good long-term value and performance for our clients.”
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