Expanding InfraRed's industrial portfolio
HSBC Specialist Investments has completed the purchase of the Exel Distribution unit at J31 of the M62. It has acquired the 382,000 sqft unit, which is let to Exel for a further 12 years, from a fund managed by PRUPIM.
This is the fourth distribution unit acquired since October 2010. The other investments include the 212,000 sqft GIST unit on Swift Valley Park, Rugby, the 164,000 sqft Scotts unit at West Moor Park, Doncaster and the development funding of the 1m sqft Amazon distribution unit in Dunfermline, Scotland.
James Cooper, Director, European Real Estate Investment, commented:
“We have almost 20 years of continued investment history in the U.K. industrial market, which allows us to very efficiently identify and execute acquisitions that fit our investment criteria. As a value-added investor our particular strength lies in identifying the potential in short lease profiles, vacancies and refurbishment requirements."
GVA Leeds advised HSBC and King Sturge advised PRUPIM.