ICG snaps up 69-acre logsitics facility

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Intermediate Capital Group (ICG) has bought a 69-acre mission storage and logistics site from Rockingham Automotive in Corby, on a 25-year lease to STVA UK.

STVA UK is a subsidiary of Group CAT, a leading independent operator in transport and vehicle logistics. STVA has this year relocated to the purpose built site.

Chad Brown, investment director of sale and Leaseback at ICG said: “This is an attractive deal for ICG, supported by growing demand for limited open storage capacity. We look forward to working with STVA UK, as they continue to evolve their model.”

“We continue to actively seek opportunities and are targeting mission critical assets across continental Europe and the UK. We have circa €1bn to invest and will look at all sectors and opportunities, where the importance of the asset to the tenant is evident.”

M1 brokered the transaction and advised Rockingham Automotive. ICG was advised by JLL.