Joint venture partners relocate Grupo Antolin
National logistics developer db symmetry and funding partner Barwood Capital have announced the successful relocation of Grupo Antolin to Aquila, a 120,000sq ft facility in Knowsley, Merseyside.
The news officially ends the joint venture’s involvement in the project and comes after the investment sale of Aquila to LondonMetric Property for an undisclosed sum in May this year.
Grupo Antolin, the tier one supplier for Jaguar Land Rover (JLR), invested £3m in the development, including the fit-out, to meet the company’s stringent criteria required to carry out its operations.
It followed the joint venture’s additional £2.5m refurbishment of Aquila earlier in the year.
Simon Dixon, development director at db symmetry, said: “Grupo Antolin’s occupation of Aquila signifies the end of a three-year long project for Barwood Capital and db symmetry.
“The mechanics of this investment have worked like clockwork from site acquisition through to the letting and subsequent sale of the property. We would like to thank all parties involved to help bring this space back to use and maximise the value of this asset.”
Danielle Sheppard, investment director Barwood Capital, said: “We acquired this prominent site for our 2012 Property Fund and, with db symmetry as development partner, have successfully constructed an efficient manufacturing and distribution facility which met Grupo Antolin’s growth strategy.
“Following the building’s sale to LondonMetric, we are happy to be delivering significant returns to our investors, demonstrating our ability to seek out opportunities and meet demand in key locations in the UK’s regional commercial property market.”
Located on a 9.4-acre site, Aquila comprises 100,926sq ft of industrial accommodation and 18,889sq ft of office and amenity space. Grupo Antolin joins existing occupiers Halewood International, Olympic Oils, Parcelforce and Beesley & Fildes.
The project team included architect 5Plus, engineer, Shepherd Gilmour and main contractor ISS.
