Wrexham DC changes hands
Elite Partners Capital has completed the acquisition of the distribution facility in North Wales for over £30 million.
Colliers advised Elite on the deal.
The asset is located within Wrexham Industrial Estate. The estate extends to over 550 hectares and is home to over 340 businesses creating employment for over 10,000 people.
The distribution facility, consisting of two detached industrial warehouse facilities, provides in total 723,114 sq ft of space on 45.9 acres land. It is fully let to one of the UK's largest shop-at-home retailers Shop Direct Home Shopping (a subsidiary of The Very Group).
This represents the first UK acquisition for the second series of EPC's Logistic Funds.
The acquisition in Wrexham, says Victor Song, CEO of Elite Partners Capital, is part of the firm's bigger plan to amass an institutional-scale portfolio of prime logistics assets across Europe and the UK.
He added: "We believe that this asset is particularly well-placed to benefit from the highly dynamic logistics market in the UK where the demand for logistics warehouses remains strong and resilient.”
The UK Industrial & Logistics sector has seen an outperformance due to the e-Commerce boom over the years, which was further accelerated by the Covid-19 pandemic.
