Leicestershire logistics site snapped up in £94m deal

M&G Real Estate Capital Solutions has acquired a portfolio of five prime distribution buildings in Bardon in North Leicestershire, Wakefield, and Southampton, from Mountpark Logistics EU, a leading developer of industrial and logistics property.

The portfolio comprises five, recently developed buildings including Mountpark in Bardon – a prime Midlands distribution / logistics park extending to 145 acres with an average unexpired lease term of over 15 years

Martin Towns, Head of UK Commercial & Capital Solutions at M&G Real Estate, explains: “Investor demand for UK logistics assets remains robust, propelled by above average occupier demand, low vacancy levels and limited levels of new development so we don’t anticipate competition for assets moderating any time soon.

“With the support of our specialist sector teams, we look forward to helping existing and future clients around the world to secure direct real estate exposure to support their financial objectives.”

Philip O’Callaghan, Managing Director, UK and Ireland Developments at Mountpark, adds: “We are delighted to have completed this off-market transaction with M&G Real Estate. Mountpark speculatively developed and let all five properties over the last three years, and we are pleased they have attracted so much interest.”

M&G Real Estate’s Capital Solutions identifies opportunities for international investors seeking direct real estate exposure to the UK, continental Europe and Asia, where the business has an established presence and local specialist investment and asset management teams on the ground.

Recent joint venture deals on behalf Capital Solutions’ external clients include the £94 million acquisition of Selly Oak Shopping Park and £105 million deal to buy 101 Embankment in central Manchester.