Singaporean investment firm buys distribution facility in UK for £30m
Singapore-based mostly expense business Elite Associates Cash has bought a distribution facility in the United kingdom for over £30 million.
The asset is located inside of Wrexham Industrial Estate, a leading industrial location and one of the biggest industrial estates in the British isles, perfectly put to provide both of those Wales and England. The estate extends to above 550 hectares and is residence to more than 340 enterprises generating employment for over 10,000 individuals.
The distribution facility, consisting of two detached industrial warehouse facilities, provides in total 723,114 sqft of built up space on a 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 – a multi-brand online retailer and financial services provider in the UK and Ireland).
Elite Partners said this represents the first UK acquisition for the second series of EPC’s Logistic Funds.
”Riding on its strong track record and the deep network the manager has built over the years, Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK,” the company said.
Victor Song, CEO of Elite Partners Capital said:”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.