Clarion Partners Europe has acquired three distribution warehouses in the UK from KKR鈥檚 European industrial and logistics real estate platform.
Clarion, which is investing on behalf of a fund, said the 708,000sqft newly constructed facilities in Widnes were purchased from KKR Real Estate Partners Europe II Fund and Mirastar.
KKR and Mirastar said the properties, located at the Gorsey Point logistics park, were constructed in two phases throughout 2022.
The parties did not disclose financial details.
The investment marks Clarion鈥檚 second venture in the UK this year. Back in March, Clarion invested 拢52m (鈧�60.1m) to buy two warehouses in Peterborough, a deal that represents the firm鈥檚 transaction in the UK since 2016.
Matthew Tatlock, VP of Clarion Partners Europe, said: 鈥淲idnes, being a prime logistics destination, enjoys robust occupier demand and offers the advantage of proximity to two major regional metropolitan areas in the UK. This favourable location has limited availability and a muted development pipeline, creating an environment for future rental growth.鈥�
Rory Buck, managing director, Clarion Partners Europe, said: 鈥淲e believe that the UK logistics market currently represents an attractive investment opportunity.
鈥淲e have significant firepower to deploy into the market and as we expand our portfolio, our focus remains on acquiring newly developed, sustainable and high-quality logistics assets, leased to strong counterparties in locations benefiting from limited supply and upward pressure on rents.鈥�
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