John Cutts’ Mountpark Logistics has agreed one of the largest single-asset sales in the UK logistics market.
The company has agreed to sell a 1.3m sq ft distribution centre, which it developed and let to Amazon, in Bardon, Leicestershire for £120m to BNP Paribas REIM on behalf of a Korean investor.
The price reflects a 4.75% yield. It is the largest single-asset logistics transaction so far this year.
Amazon agreed a deal with Mountpark to prelet the distribution warehouse at the end of last year.
The space will be used as a fulfilment centre for the online retail giant, which is expanding its logistics portfolio to meet the demands of its growing customer base as well as fulfilling Amazon Prime’s one-hour delivery times.
The warehouse will be able to accommodate more than 80 lorries.
CBRE and DTRE are acting for Mountpark Logistics; BNP Paribas Real Estate is acting for the buyer.
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