Monday, May 23, 2022

Duo of Midlands logistics assets acquired for £66m

BMO Commercial Property Trust Limited (BCPT) has acquired two logistics assets in the Midlands for £66 million.

The company has acquired Orion One and Two, Markham Vale, Derbyshire for a price of £44.5 million.

The two newly built units were completed in April 2021 and are located within Derbyshire’s 200-acre flagship redevelopment scheme adjoining junction 29A of the M1 Motorway.

Orion One extends to 224,424 sq ft and is let to The National Lighting Company Limited. Orion Two comprises a smaller unit of 75,958 sq ft and is let to Smurfit Kappa UK Ltd.

The second acquisition is Unit 4, Quintus Business Park, Burton-Upon-Trent which is structured as a forward funding to develop a new logistics warehouse of 171,550 sq ft. The property has been pre-let to Werner UK Sales & Distribution Limited. The purchase price is £21.5 million. The development has achieved planning consent and is expected to complete in July 2022.

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