EQT Exeter, the global real estate investment manager, has continued its recent UK industrial investment drive with the acquisition of the Asda George distribution hub at Brackmills, Northampton.
The investor has paid Schroder Capital UK Real Estate Fund around £38 million for the hub.
The 299,585-square-foot distribution hub includes 15 metre eaves, 26 dock loading doors and two 50 metre yards. The unit is let to supermarket chain Asda until November 2028 providing a 4-year term.
Schroder UK Real Estate Fund picked up the distribution hub in 2021 as part of a £345 million asset swap transaction with Segro.
Last month EQT Exeter bought two logistics properties in Milton Keynes and Dartford from M&G Real Estate for £100 million for its EQT Exeter European Logistics Value Fund IV.
In Milton Keynes, the 320,000-square-foot warehouse at Anderson Gate was 100% let to DS Smith Corrugated Packaging while the Dartford asset totals 334,000 square feet and is also fully let to Asda Stores as a distribution centre.
In a release announcing those transactions, Jonathan Mackie, director of UK acquisitions and leasing at EQT Exeter, explained that the strategic locations of the assets "attract robust big-box occupier profiles proving the critical nature of these UK logistics submarkets".
He added that EQT Exeter’s "operational expertise and focus on sustainability will aim to unlock further potential for these properties, ensuring they meet the evolving needs of our occupiers and investors alike".
EQT Exeter was advised by ACRE Capital Real Estate while Schroders was advised by Gerald Eve.