Cromwell Property Group (Cromwell), on behalf of Cromwell European REIT (CEREIT), has completed the acquisition of a 105,098-square-foot logistics asset for £10 million (€11.76 million/$13.93 million).
This will be CEREIT’s first U.K. logistics asset for its diversified portfolio. The fully let freehold asset is located in a prime logistics location close to Liverpool and Manchester, providing good connectivity to major motorway networks, two airports and a deep-sea port. The recently refurbished building sits on a five-acre site and benefits from a large yard and dual-access loading.
Matthew Bird, head of U.K. at Cromwell Property Group, said, “We are delighted to have secured such a highly attractive asset on behalf of CEREIT for its first U.K. acquisition. The U.K. market remains a strong market for investors, particularly in the logistics and light industrial sector, with investor demand largely driven by a buoyant occupational market tied to the accelerated
