Quartet of warehouses sold in £30m deal

Four East Midlands warehouses have been sold as part of a wider deal worth £30m.

Urban Logistics has offloaded the units, which are based in Northampton, Leicester and Chesterfield, to The Carlyle Group and ARA Dunedin. A further warehouse in Bedford has also been sold.

Richard Moffitt, chief executive, said: “I am extremely pleased with this sale which has realised a strong return for shareholders.

“Since we started out on our journey in 2016, we have achieved considerable success creating, then realising value across our portfolio once available asset management initiatives have been completed. This deal is the latest example of our proven track record of value creation.

“The funds realised from these sales will be quickly redeployed in acquiring further assets from our pipeline.”