Clarion Partners Europe, the real estate investment fund manager specialising in European logistics and industrial assets, has acquired, on behalf of its UK-only logistics fund, an institutional-quality logistics facility in Haydock, near Warrington, for £50.8 million. The vendor is Warrington Borough Council.
Constructed in 2019, the 381,146 sq. ft. property is fully let to Movianto UK Limited, a leading healthcare supply chain service, on a 15-year lease, with a rent review due in July 2024.
Haydock is a prime UK distribution hub, located at the intersection between the M6 and A580 which connects Liverpool (30 minutes’ drive time) and Manchester (25 minutes), with 5.3 million inhabitants living within a 40-minute drive time.
Following this transaction, Clarion Partners Europe has invested £170 million on behalf of its UK-only logistics fund in five months, amassing a c. 1.15 million sq. ft., 11-asset portfolio.
Source: press release sent 20 June 2024