International investor Arrow Capital Partners is to fund a second phase of development at Aviator Park in Ellesmere Port, to create an additional 280,000 sq ft of high-quality logistics space.
Arrow has acquired the site from Redsun Projects, who have been retained as the development manager. B8 Real Estate advised Arrow on the deal.
The latest investment follows Arrow’s successful acquisition of Phase I, which was constructed and let to Survitec on a 20-year lease shortly after completion in 2020. It is part of its plans to invest £500m in the UK logistics market in the next three years.
Arrow, which invests in and operates real estate in Europe and Asia-Pacific, is financing the development from its €3bn Strategic Industrial Real Estate (SIRE) with Cerberus.
Robert Howe, Head of Real Estate Europe at Arrow, said:
“Aviator is an established distribution park, strategically located next to Junction 6 of the M53 motorway and providing excellent access to Liverpool, Manchester and the wider North West market.
“This funding strengthens SIRE’s position on the site, and we intend to invest more than £500m in UK urban logistics market over the next three years, targeting urban logistics assets with income, vacancy or refurbishment potential as well as more development opportunities, both on a forward funding and forward commitment basis.”
Simon Wood of B8 Real Estate says:
“This transaction not only reinforces with confidence in the North West industrial market but also in Ellesmere Port as a location which is witnessing excellent levels of occupational and investment activity. We look forward to working with Arrow and Redsun on securing occupiers to this impressive scheme.”
Nick Wightman of Redsun Projects said: “There is strong demand from occupiers for high-quality, well-located buildings, so we expect there to be good levels of interest in this development over the coming months.”
B8 Real Estate and M1 Agency have been appointed as the joint letting agents for the scheme.