Clarion Partners Europe has acquired a state-of-the-art logistics facility in Haydock, North West England, for £50.8 million.
This acquisition was made on behalf of its UK-only logistics fund and the seller of the property was Warrington Borough Council.
The newly acquired facility, built in 2019, spans 381,146ft2 and is fully leased to Movianto UK Limited, a prominent player in the healthcare supply chain sector. The lease, which extends for 15 years, includes a rent review scheduled for July 2024, underscoring the property’s potential for increased revenue.
Haydock, a prime logistics hub, is situated at the junction of the M6 and A580, providing excellent connectivity to Liverpool and Manchester. This location advantage is further amplified by its proximity to a population of 5.3 million people within a 40-minute drive.
This acquisition brings Clarion Partners Europe’s total investment in the UK to £170m over the past five months, culminating in a robust portfolio of approximately 1.15 million ft2 spread across 11 assets.
Florina Capraru, director at Clarion Partners Europe, highlighted the significance of the Haydock acquisition: “Haydock is an outstanding UK logistics location in one of Europe’s most densely populated and undersupplied regions. The area has seen remarkable rental growth, and the market’s shift towards institutional quality, sustainable properties makes this acquisition particularly attractive.”
Rory Buck, managing director at Clarion Partners, emphasised the company’s investment strategy: “This latest acquisition demonstrates our expertise in sourcing compelling investment opportunities across the UK. We are focused on deploying capital quickly into highly reversionary, tenant-critical assets that are leased to blue-chip businesses.”
Advising Clarion Partners Europe on this transaction were King Street Real Estate and Gowling WLG, while TLT LLP represented Warrington Borough Council.
