Mountpark completes Portfolio sale to M&G Real Estate.21st May 2018
The portfolio comprises five prime distribution buildings at Mountpark Wakefield, Mountpark Bardon at Junction 22 of the M1 and Mountpark Southampton. The units are fully let with an average unexpired lease term of 15.25 years.
“We are delighted to have completed this off-market transaction with M&G Real Estate,” said Philip O’Callaghan, Managing Director, Mountpark UK and Ireland. “Mountpark has developed and let all five properties over the last three years and we are pleased that they have attracted so much interest.”
Spread across the UK, the portfolio fits M&G Real Estate’s strategy of acquiring assets with strong potential for capital appreciation and long-term income, in accessible location with high quality existing occupiers.
“The growth strategy for the logistics sector at M&G Real Estate includes a mixture of funding our own developments and acquiring high quality existing assets in strategic locations,” said Chris Jeffs, Director, Investment Management at M&G Real Estate. “The opportunity to purchase a portfolio off-market from a highly regarded specialist in a competitive sector is welcome in a time of strong demand.”
DTRE and CBRE acted on behalf of Mountpark.
Since its formation in 2014, Mountpark Logistics has acquired 17 sites with the potential to deliver over 21 million sq ft of logistics accommodation. The company is currently constructing a speculative development programme of around 1.5 million sq ft at Mountpark Warrington Omega, Mountpark Southampton Phase II and Mountpark Baldonnell in Dublin.
For more information please contact Caroline Melvin on behalf of Mountpark.
Tel: 0117 946 6654/07739 456336