Savills Investment Management has acquired two logistics assets in France and the United Kingdom on behalf of its Vestas European Strategic Allocation Logistics Fund (VESALF I), for a combined price of €175 million ($199 million).
Located on Mercia Park, Tamworth, U.K., the first acquisition constitutes a sale and leaseback of DSV’s midlands headquarters. The asset is made up of a 420,000-square-foot warehouse building, an approximately 120,000-square-foot cross-dock facility and a regional 35,000-square-foot HQ office building.
VESALF I signed the forward commitment to acquire the property in March 2021 and has now closed the deal upon completion of construction. DSV has taken a 10-year lease over the buildings, which benefit from BREEAM “Very Good” ratings.
The fund has also acquired two recently developed warehouses near Lille, one of the biggest French logistics locations. The buildings are leased to Renault and Fedrus on long-term commitments.
