‘Largest ever’ UK warehouse deal is completed for £233m
Real estate investor, Arrow Capital Partners, has acquired a £233m Amazon-let logistics base at Wakefield Hub, from Mountpark Logistics.
The warehouse, in Silkwood Park, includes the part developed robotics warehousing facility for Amazon.
The completed development will comprise a five-storey warehousing facility covering more than one million sq ft.
Marty McCarthy, managing partner at Arrow Capital Partners, said: “By developing multi-storey facilities like this one, we are able to significantly increase the amount of space available to e-commerce businesses in strategically important locations where there is fierce competition for land, while reducing our tenant customers operating costs.”
Arrow was advised by CBRE and Mountpark by JLL.
International law firm CMS also advised Arrow on the deal. Nathan Jansen, partner at CMS in Manchester, said this was the “largest ever warehouse sale in the UK.”
He added: “The logistics and warehouse sector continues to perform strongly, driven largely by the growth in e-commerce, offering incredible opportunities for investors.
“CMS is at the forefront of logistics and warehousing transactions and this deal speaks volumes to the firm’s experience in this hugely exciting area.”
The CMS team advising Arrow was led by Jansen and Gareth Saynor, with support from Dave Lawson and David Taylor (Real Estate); Patrick Fenlon (Planning); Christine Worthington and Martyn Stevenson (Construction); Clive Swillman and Fergus Jones (Banking) and Carmun Cussons (Corporate).
Arrow Capital has a portfolio worth more than £2bn, comprising logistics developments and investments across the UK, Germany, the Netherlands, Spain, Italy, Ireland, Austria and Scandinavia.
