Czech investor enters UK market after swooping for over 870,000 sq ft of East Midlands space

Prague-based P3 Logistic Parks has expanded into the UK after buying two logistics units totalling 872,000 sq ft of space in the East Midlands.

The buildings are in Crick and Kettering in Northamptonshire. The terms of the deal have not been disclosed.

P3 is partnering with Roebuck, an institutional pan-European investment manager specialising in the European logistics sector.

Frank Pörschke, CEO of P3 Logistic Parks, said: “The acquisition of these two logistics assets in the UK marks a significant milestone for P3, as it expands our operations into a key market known for its robust logistics industry. The country has always been a vital hub for international trade and commerce, and we are excited to offer our expertise and resources to meet the evolving needs of businesses operating in this region.”

Otis Spencer, CIO of P3 Logistic Parks, added: “P3’s entry into the UK market reflects our long-term vision and strategic growth plans. We have carefully selected these logistics assets as they align with our commitment to delivering excellent service quality, operational efficiency, and sustainability to our customers.”

David Proctor, managing director of group investment at SEGRO, said: “This disposal has enabled us to divest a number of relatively small holdings, all of which were ear-marked for disposal in the near to medium-term, allowing us to recycle capital into our successful development programme. It also demonstrates the continuing investment appeal of high-quality logistics assets after the significant valuation correction that occurred over the last year.”

P3 was advised by Colliers on the transaction. DTRE and ACRE acted on behalf of SEGRO.

Ed Plumley, director, EMEA capital markets, Colliers said: “These acquisitions are the good news the market needs. It is a clear demonstration that investor appetite remains for assets in core locations with long-term growth and ESG performance opportunities. Colliers were delighted to bring this off-market opportunity to P3 and provide focused advice as they expanded into a new jurisdiction.”