Hines has announced that Hines Global Income Trust has acquired City Central Coventry, a 400,000-square-foot urban logistics park located in the U.K.’s Golden Triangle, a premier location for logistics and distribution operations. The financial terms were not disclosed.
The multi-let urban logistics estate is located in Central City Coventry, West Midlands, with access to 90 percent of the United Kingdom’s population within four hours’ drive time, and is near M6, M1, and A1 motorway networks. A popular gateway and regional last-mile distribution destination, the West Midlands saw a growth in last-mile space reach a record 6.4 million square feet in 2021, 42 percent above its 10-year average of 4.5 million square feet, demonstrating its popularity with occupiers.
Matthew Leonard, investment associate at Hines UK, commented, “We continue to have strong conviction for U.K. logistics and positive e-commerce trends. Central City Coventry is a prime last-mile locatio
