St Francis Group sells £68m logistics portfolio

A Tristan Capital fund has bought a logistics portfolio worth £68 million developed in partnership with St Francis Group, from the Richardson family.

The logistics portfolio includes Cransley Park, Kettering, and Velocity 42, Redditch.

The portfolio which also includes a unit of 105,000 sq. ft in Avonmouth developed by Curtis Hall, consists of 11 new-build logistics buildings.

St Francis Group sold development-ready sites to the Richardson family in December 2017 and have since worked in partnership to deliver a speculative development programme.

At the time of sale 145,000 sq. ft of space was either occupied or under offer.

Gareth Williams, director at St Francis Group said: “We are delighted to have been able to capitalise on continued investor appetite for high quality and well-located industrial warehouse stock.