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Investors pursue last-mile logistics property

Investors pursue last-mile logistics property

Investors have redoubled their interest in last-mile logistics property as they prepare for a rethink of the UK parcels and online fulfilment businesses.

Oxenwood Real Estate, the UK and European real estate investment management firm, has acquired three further units.

A Manchester Trafford Park warehouse was part of a three-unit deal which also included two Southampton depots. The total 352,000 sq ft sale-and-leaseback transaction was concluded at a price of £25.9 million. The units have been leased back on leases ranging from 3 to 15 years.

The purchase was by Oxenwood Catalina as a joint venture with Catalina Holdings (Bermuda) Ltd. The deal comes just weeks after the £51 million acquisition by Oxenwood Catalina of four last-mile properties in London, Redhill and Manchester.

Last week Prologis acquired a North London retail park as the logistics property sector moves in on retail sites as potential last-mile delivery locations. Prologis paid £51.4 million for the 128,000 sq ft site at Ravenside Retail Park, Edmonton.

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