The tsunami of international money trying to buy into UK logistics property is about to get even bigger.
The £215m sale of the so-called Ocean Portfolio - which includes the 1.75m sq ft Fradley Park logistics site at Litchfields - is expected to tempt more overseas investors.
Experts say the tidal wave of money is making it easier for UK logistics operators to find - or to have built - the new premises they want. This is because property developers know they can sell the finished building as an investment.
DTZ is advising on the sale which also includes Follingsby Park in Gateshead; four assets in Leeds; two in York (which include York Business Park and properties at Clifton Moor); three in the North West (at Deeside and Blackrod Trading Estate in Bolton); Swinderby Industrial Estate in Lincoln; and a large distribution unit at Swift Park, Rugby.
‘The Ocean Portfolio’ and Fradley together generate a total rent roll of £15.6m a year.
The move comes days after BT’s 432,000 sq ft National Distribution Centre at Magna Park, Lutterworth, was sold to Scottish Widows via Aberdeen Asset Management PLC at a price of £45.41.