Logistics specialist Crossbay has entered the UK logistics market with the acquisition of four assets for around £80million.
It has acquired a 165,000 square foot business park In Watford from Eskmuir Properties, which includes nine fully let warehouses leased to five tenants on relatively short WAULT agreements.
In Leeds, it completed two transactions – a 135,000 square foot warehouse in a Wakefield distribution estate let to listed retailer Card Factory on a long-term reversionary lease and a 169,000 square foot warehouse in Dewsbury’s Shawcross Business Park. This will be converted into two modern mid-box units.
In Farnborough, Hampshire, it acquired a 41,000 square foot warehouse let to parcel and courier service Hermes on a flexible lease.
Commenting on entering the UK logistics market, CEO Marco Riva says, “The UK is a key strategic focus for our second portfolio, having repriced faster than the majority of European markets, and will complement our strong and established presence in leading continental European markets. We are well capitalised and have teams of local experts to accelerate deal flow, meaning we are well positioned to take advantage of the current opportunity in the logistics market.”
Crossbay is owned by real estate manager, MARK.
