Trio of logistics assets fetch £100m+ for NFU Mutual

NFU Mutual has disposed of a trio of logistics assets to a joint venture between Copley Point Capital and Sixth Street.

The £100m+ off-market deal is for more than 900,000 sq ft at two single-let warehouses at Magna Park, Lutterworth leased to Fowler Welch and Great Bear and a single-let warehouse at First Point, Doncaster leased to Amazon.

It brings the JV’s portfolio to six assets across 2.5m sq ft.

Owner and operator of UK industrial property Copley Point, entered into a joint venture with global investment firm Sixth Street last November.

The pair is targeting“mission-critical’ industrial real estate in established and “supply-constrained” logistics markets across the UK.

It kicked off the JV with agreements on an initial £180m of transactions, with plans to grow through single-asset and portfolio acquisitions across the UK.

Guillaume Savoie-Coulonval, managing director at Copley Point commented: “We are delighted to expand our partnership with Sixth Street and add to our high-quality portfolio. These three distribution warehouses exemplify the type of investments we are targeting across the UK. We remain acquisitive and continue to offer a reliable solution to sellers in the current market environment.”

BSB Real Estate and Gowling WLG advised NFU Mutual on the deal.