A 296,500 sq ft distribution warehouse at South Elmsall, that is let to high street giant Superdrug, has changed hands for more than £17m.
The building has been sold by a client of global asset management group, Columbia Threadneedle Investments. It has been bought by Arrow Capital Partners, the specialist investor, developer and manager of real estate in Europe and Asia-Pacific, for its Strategic Industrial Real Estate joint venture with Cerberus.
Columbia Threadneedle Investments was advised by Leeds property consultancy, GV&Co’s investment division and M1 Agency advised Arrow Capital Partners.
The warehouse sits in an 18-acre site and is let to Superdrug Stores Plc, which has occupied the facility for almost 34 years since it was built.
Daniel Walker, from GV&Co, said: “This is a high quality, mission-critical asset located close to the A1M, as well as offering easy access to the M62 and M1, making it an integral part of Superdrug’s distribution network. We are delighted to have secured the off-market sale to Arrow and complete the final part of our client’s asset management strategy for the property.”
Robert Howe, head of real estate, Europe, at Arrow Capital Partners, said: “This transaction reflects our ongoing commitment to acquire mission-critical assets offering strong reversionary potential for our SIRE joint venture.
“Our focus remains on identifying and acquiring standing investment and development opportunities that offer strong potential for value creation and sustainable returns for our investors.”
