Tristan Capital acquires £68m logistics portfolio
Tristan Capital Partners’ EPISO 5 fund has bought three logistics sites for around £68m, as part of plans to build out an industrial portfolio in the UK.
The portfolio was bought off-market from the Richardson family, St Francis Group and Curtis Hall.
It comprises Velocity 42, in Redditch, Cransley Park in Kettering, Northamptonshire, and Worcestershire and Western 105, Avonmouth, Bristol.
Tristan Capital Partners’ EPISO 5 fund has bought three logistics sites for around £68m, as part of plans to build out an industrial portfolio in the UK.
The portfolio was bought off-market from the Richardson family, St Francis Group and Curtis Hall.
It comprises Velocity 42, in Redditch, Cransley Park in Kettering, Northamptonshire, and Worcestershire and Western 105, Avonmouth, Bristol.
The locations were recently developed by Richardson and measure a combined 668,000 sq ft across 11 buildings.
These are mostly vacant apart from Redditch, which has one tenant.
Nicho Jenkins, managing director at Tristan Capital Partners, said that Tristan plans to “lease up the vacant space and pursue similar opportunities to potentially build out a UK logistics portfolio”.
Jenkins 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.”
DTRE represented the buyer; the Richardson family dealt direct.
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