Quotient Sciences has closed on the sale and leaseback deal of its life sciences facility at Alnwick in the north of England.
LOG IN, a European logistics and industrial fund created in 2022 and managed by Theoreim and Principal Asset Management, purchased the 172,000 sq ft facility in a bid to grow its existing portfolio of 10 industrial, logistics, and data centre assets across the UK, Spain, Italy and Germany. It is seeking sites valued at €5m-€25m (£4m-£20m).
The property has been let back to the vendor on a 20-year lease. Located by the A1 motorway, Quotient Sciences’ hub benefits from access to Edinburgh and Newcastle, which are home to health centres of key importance to the tenant.
Romain Welsch, president of Theoreim, said: “LOG IN has taken a new strategic step with the acquisition of its first life sciences property complex.
“By continuing its European expansion with this 11th acquisition, LOG IN is expanding its property portfolio, offering greater expertise and opportunities across fast-growing sectors of the future”.
Guillaume Masset, head of transactions and asset management for Europe at Principal, said: “The life sciences sector is driven, particularly in the UK, by the government’s strong economic support for research and development and is a promising sector for investment”.
Image © LOG IN
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