Mayfair Capital has paid €17 million ($20 million) for a high-quality “mid-box” industrial property in Stockport, England.
The Orion Business Park includes four modern mid-box industrial units ranging from 29,000 to 49,000 square feet that are leased to two tenants, Allied Publicity Services and Landis Gy.
The acquisition increases Mayfair Capital’s Property Income Trust for Charities (PITCH) allocation to the logistics sector to more than 42 percent, following another acquisition in November.
“Investors are looking to deploy capital into defensive assets due to the continued strong fundamentals and the accelerated transition to ecommerce, as the structural shift away from ‘traditional’ retailing has sped up dramatically through the COVID crisis, and we expect a record take-up in the U.K. logistics sector this year,” said Phil Sturdy, investment director.
Mayfair said the South Manchester industrial market presents a compelling investment
