M7 fully lets Air Cargo Centre, Castle Donnington, setting record new headline

5 August 2019

M7 Real Estate (“M7”) the pan-European investor and asset manager, announces that it has completed five new lettings totalling c. 50,500 sq ft at the Air Cargo Centre in Castle Donnington, which is now at full occupancy, on behalf of a global institutional investor.

The asset, which comprises a total of c.142,000 sq ft of industrial space, was acquired as part of the M Portfolio from Commercial Estates Group in October 2018. The property, which is located adjacent to East Midlands Airport, had a vacancy rate of 31.4% across four units totalling c.44,500 sq ft with a further two units totalling c. 6,000 sq ft becoming vacant shortly after.

M7 identified an opportunity to significantly improve the occupancy and grow the rental income. It undertook an asset management programme to refurbish space and convert c. 10,600 sq ft of office space to warehousing, while also improving the landscaping surrounding the units.

This led to recent lettings with DHL, HGV Direct and Norsk, setting a new record rent for the asset of £7.95 per sq ft, an increase on the previous average passing rent of c. £6.50 per sq ft. The WALT of the property has increased to five years and is underpinned by strong tenant covenants.

James Chasen, Asset Manager at M7, commented: “In just six months we have turned around the performance of this asset, leasing all the vacant space to achieve 100% occupancy on what is a unique asset for this strategy. We have leveraged our asset management expertise to capitalise on the Air Cargo Centre’s attractive location next to East Midlands Airport to secure a number of high-profile occupiers seeking air side facilities for their delivery networks.”

M7 lets Barnsley Distribution Unit to Ardagh Glass

4 November 2019

M7 Real Estate, (“M7”) the pan-European investor and asset manager, has on behalf of M7 REIP V (the “Fund”) completed the leasing of a 162,000 sq ft warehouse unit at Carlton Industrial Estate in Barnsley, to Ardagh Glass. read more

M7 joins UK PropTech Association as Gold Member and is Platinum Sponsor of UK PropTech Awards 2019

31 October 2019

M7 Real Estate, the leading specialist in the pan-European, multi-let real estate market, has joined the UK PropTech Association as the latest Gold Member as well as a Platinum Sponsor of the UK PropTech Awards 2019. read more

M7 wins Warehouse Investor of the Year at the EuropaProperty.com CEE Investment Awards

30 October 2019

M7 Real Estate (“M7”) is pleased to announce that it has won Warehouse Investor of the Year at the EuropaProperty.com CEE awards 2019. read more