Real estate investor to fund additional logistics scheme at Ellesmere Port’s Aviator Park

Real estate investor Arrow Capital Partners has agreed to fund the next phase of Ellesmere Port’s Aviator Park scheme.

Arrow initially acquired the 125,000 sq ft first phase of the development earlier this as part of its acquisition of the £180m UKWP portfolio, and has now agreed to fund the construction of phase two of the development which comprises an additional 280,000 sq ft of logistics space.

Phase one was constructed and let to Survitec on a 20-year lease shortly after completion in 2020.

Arrow is financing the development from its €3bn Strategic Industrial Real Estate (SIRE) with  Cerberus.

The site was acquired from Redsun Projects which have been retained as the development manager.

Robert Howe, Head of Real Estate, Europe at Arrow, said: “Aviator is an established distribution park, strategically located next to Junction 6 of the M53 motorway and providing excellent access to Liverpool, Manchester and the wider North West market.

“This funding strengthens SIRE’s position on the site, and we intend to invest more than £500m in UK urban logistics market over the next three years, targeting urban logistics assets with income, vacancy or refurbishment potential as well as more development opportunities, both on a forward funding and forward commitment basis”.

Nick Wightman of Redsun Projects, added: “We’re delighted to complete this deal with Arrow and we now look forward to getting on-site to deliver this final phase at Aviator.

“There is strong demand from occupiers for high-quality, well-located buildings, so we expect there to be good levels of interest in this development over the coming months.”

B8 Real Estate acted for Arrow and M1 Agency acted for Redsun.

Simon Wood of B8 Real Estate said: “This transaction not only reinforces with confidence in the North West industrial market but also in Ellesmere Port as a location which is witnessing excellent levels of occupational and investment activity. We look forward to working with Arrow and Redsun on securing occupiers to this impressive scheme.”