Industrial developer P3 Logistic Parks has expanded its activities into the UK market. It has expanded its portfolio by 81,000 sqm by acquiring two well-located Segro industrial parks. It has acquired a 36,000 sqm lettable site at Crick, with a further 45,000 sqm at Kettering.
“The acquisition of these two UK industrial parks is a significant milestone for P3 as it enters a market where logistics is a very strong sector. The British Crown lands have always been a hub for international trade and we are excited to offer our expertise and resources to meet the evolving needs of business in this region,” said Frank Pörschke, CEO of P3 Logistic Parks.
The newly acquired properties are located in the ‘Golden Triangle’ and are connected to major transport arteries and key UK industrial centres. All of the buildings were built post 2010 to A standard and are BREEAM Very Good certified. The parks are fully occupied by three tenants.
P3’s entry into the UK market is with Roebuck, an institutional pan-European investment manager specialising in the European logistics sector. The latter, with its extensive experience, will manage both assets in the initial phase of P3’s expansion into the UK.
“P3’s entry into the UK market reflects our long-term vision and strategic growth plans. We have selected these logistics assets with great care and in line with our commitment to delivering service excellence, operational efficiency and sustainability to our customers,” described Otis Spencer, Investment Director at P3 Logistic Parks.
SEGRO Group Executive Director of Investments David Proctor commented: “These relatively small stakes were intended to be sold in the near to medium term, allowing us to bring capital into our successful development programme. This acquisition also demonstrates the continued investment appeal of high quality logistics assets following the significant valuation correction that has occurred over the last year.”
Colliers was involved in the closing of the transaction on the P3 side and DTRE and ACRE on the Segro side. It is a clear demonstration that investor appetite for assets in key locations with long-term growth and ESG performance opportunities remains. We are delighted to have been able to help P3 expand into a new market and provide targeted advice on its expansion into a new jurisdiction,” said Ed Plumley, EMEA Capital Markets Director at Colliers.
