11 Dec 2017
M&G Real Estate acquires 250,000 sq ft of industrial space in West Yorkshire and Hampshire
London, 11 December 2017 – M&G Real Estate, one of the UK’s leading property investors, continues to grow its £2.4 billion industrials portfolio with two new industrial assets totalling over 250,000 sq ft. The acquisition of Maple & Confederation Park and Mill Lane Industrial Estate, purchased for £9.25 million and £7.72 million respectively, support Project King, a multi-let industrial portfolio owned by M&G Real Estate and managed by M7 Real Estate.
The 157,424 sq ft Maple & Confederation Park is located in one of Leeds city’s prime industrial heartlands within easy reach of the M621 while Mill Lane Industrial Estate provides 105,464 sq of accommodation close to Alton town centre and A31.
Chris Jeffs, Investment Manager at M&G Real Estate, says: “With the trend for same day or same hour delivery, urban logistics centres such these can help fulfil shorter delivery times while large efficient warehouses are required to handle large quantities of deliveries.
“Both estates are strategically located within markets that have a distinct lack of good quality industrial space and therefore, with active management, have excellent prospects for growth. We will continue to expand our King platform which, with the help of the team at M7, provides our investors with a uniquely diversified exposure to the industrial market.”
Alex Woodall, Divisional Director at M7 Real Estate, adds: “Both assets complement the existing King portfolio and provide an opportunity for us to work with M&G Real Estate to increase value through a combination of void reduction and rental growth. The assets provide excellent access to the UK motorway network and are strategically positioned to take advantage of the current supply versus demand dynamic.”