Warehouse specialist invests £28m in six last-mile sites

XPO's site in Leigh (Credit: Twitter / @XPOLogistics_Eu)

Specialist warehouse investor Urban Logistics has revealed the £27.8m purchase of six sites that it says are “perfectly positioned” for last-mile logistics.

The acquisitions include two North West assets. It paid £6.7m for an 80,200 sq ft site in Leigh let to XPO, while a £17.3m sale and leaseback deal for four Kinaxia sites includes its Macclesfield base.

Urban Logistics chief executive Richard Moffitt said: “We are delighted with these new logistics assets which are perfectly positioned to deliver essential goods the “last mile” to customers and businesses in key conurbations.

“In line with our strategic focus, all of these assets are single-let properties servicing high quality logistics tenants.”

The other Kinaxia sites are in Telford, Royal Wootton Bassett and Yate, while Urban Logistics has also bought a 125,000 sq ft distribution unit in Rotherham for £3.8m that is let to Green Forest Solutions.

The six assets have a net initial yield of 6.87%.

St Helens winger Tommy Makinson

♦  Kinaxia Logistics has renewed its shirt sponsorship deal with Super League champions St Helens for the forthcoming 2021 season.

In addition, it has become the main sponsor for St Helens and Great Britain winger Tommy Makinson’s testimonial year which will see Kinaxia’s logo on a special testimonial shirt.

Kinaxia comprises 13 freight and logistics businesses across the UK with over 1,600 staff and more than 800 vehicles.

One of its companies is Mark Thompson Transport, based in Warrington. Mark Thompson’s son Luke plays for Canterbury-Bankstown Bulldogs in Australia and is a former St Helens and Great Britain teammate of Makinson.