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Sign in Sign up for a FREE subscriptionFrasers makes fourth U.K. logistics and industrial investment
Frasers Logistics & Commercial Asset Management Pte. Ltd., the manager of Frasers Logistics & Commercial Trust (FLCT), has acquired a property to be developed at West Road, Hooton Park Airfield, Ellesmere Port in Cheshire, Northwest England, from an unrelated third party, Stoford Properties, with FLCT to fund the development by Stoford of the new facility.
The sales price was £101 million (€117 million/$124 million).
“The forward funding acquisition presents an excellent opportunity to add a state-of-the-art logistics facility to FLCT’s growing U.K. logistics and industrial portfolio. With a committed 15-year lease term to Peugeot, a subsidiary of the global automaker Stellantis Group, the property will serve as its national distribution center. The property will be developed to high building and sustainability specifications and will meet BREEAM Excellent and EPC A rating,” said Robert Wallace, CEO of FLCT. “The property will mark FLCT’s fourth lo
