Prime logistics facility snapped up for £39.8m

A prime facility at one of the East Midlands’ largest logistics sites has been snapped up by a property investment partnership.

Ergo Real Estate has acquired the 464,824 sq ft cross-docked facility at Magna Park on behalf of Aver Property, its joint venture with NFU Mutual, for £39.8 million.

The site is currently jointly let to Renault UK and Nissan.

Ergo founder Martin Jepson said: “This facility is a great addition to our portfolio, giving us exposure to the logistics sector and, therefore, good balance.”

The purchase – Aver’s seventh – increases the company’s committed capital to c. £200 million.

Magna Park, near Lutterworth, is owned by Gazeley and includes 500 acres of warehousing and logistics space.