Elite Partners Acquires Distribution Facility In UK
Elite Partners Capital ("EPC") has completed another acquisition of a distribution facility in the UK for over GBP 30M.
The asset is located within Wrexham Industrial Estate, a premier industrial location and one of the largest industrial estates in the UK, well placed to serve both Wales and England. The estate extends to over 550 hectares and is home to over 340 businesses creating employment for over 10,000 people. The distribution facility, consisting of two detached industrial warehouse facilities, provides in total 723,114 sqft of built up space on a 45.9 acres land. It is fully let to one of the UK's largest shop-at-home retailers Shop Direct Home Shopping (a subsidiary of The Very Group - a multi-brand online retailer and financial services provider in the UK and Ireland).
This represents the first UK acquisition for the second series of EPC's Logistic Funds. Riding on its strong track record and the deep network the manager has built over the years, Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK.
The acquisition in Wrexham, according to Mr. Victor Song, CEO of Elite Partners Capital, is part of the firm's bigger plan to amass an institutional-scale portfolio of prime logistics assets across Europe and the UK. He added, "We believe that this asset is particularly well-placed to benefit from the highly dynamic logistics market in the UK where the demand for logistics warehouses remains strong and resilient".
The UK Industrial & Logistics sector has seen an outperformance due to the e-Commerce boom over the years, which was further accelerated by the Covid-19 pandemic.
For this transaction, Colliers acted for Elite Partners Capital and B8 Real Estate acted for the vendor.