Sunday, June 7, 2020

East Midlands warehouses bought in £17.9m deal

Urban Logistics has completed the second of two portfolio acquisitions from LondonMetric Plc in a £17.9m deal.

In the deal a 45,243 sq ft warehouse in Northampton let to Encon was bought, along with a 113,717 sq ft warehouse in Nottingham let to Hillary’s Blinds and a 2.2 acre land site to the north of the warehouse.

Commenting on the completion, Chief Executive, Richard Moffitt said: “Having fully deployed the investment capital raised in April in another off-market acquisition, we are focused on developing the value of our assets and sourcing new acquisition opportunities to grow the business. Structural demand for well-located urban logistics assets serving the needs of UK businesses remains strong.”

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