UKCM acquires Midlands distribution warehouse portfolio for £85.4 million
UK Commercial Property REIT (UKCM) has acquired five warehouses across the Midlands for £85.4m from Clipstone Logistics REIT.
The portfolio totals 909,030 sq ft of space at established industrial parks across the East and West Midlands, close to the M1 and M6 motorways, at Cannock, Derbyshire, Leicester, Stoke-on-Trent and Newcastle-Under-Lyme.
The tenant base includes Clipper Logistics, Roca Limited, Bestway Pharmacy NDC Limited, Rhenus Logistics Limited and TJX UK (owner of TK Maxx).
UKCM is managed and advised by Aberdeen Standard Investments. Will Fulton, lead manager of UKCM at Aberdeen Standard Investments, said: “As the structural changes from the widespread adoption of e-commerce in the UK pervade, a trend which has proven resilient against a backdrop of Brexit negotiations, we expect the outperformance of the logistics market to continue as occupier demand for space remains high.”