The logistics sector continues to roar ahead, with a Korean investor agreeing the largest ever deal for an individual UK industrial asset this week.
Korea Investment & Securities has agreed a deal to forward fund a new 2.9M SF distribution facility for carmaker Jaguar Land Rover at a cost of £300M, according to React News. The scheme is being developed by IM Properties at the Appleby Magna scheme in Leicestershire.
Jaguar will use the facility as a global parts distribution hub, consolidating separate parts facilities for its Jaguar and Land Rover marques. It has taken a 20-year lease.
Korean investors like KIS are showing a healthy appetite for the UK logistics sector, which is continuing to outperform other UK property sectors in terms of rental and capital value growth.
Last year KIS was part of a consortium of investors that paid £400M for a portfolio of three UK logistics assets leased to Amazon.
And in 2016 a Korean client of BNP Paribas Real estate undertook what was previously the largest ever single-asset logistics deal. The investor paid £126M for a 1.1M SF distribution centre leased to Amazon close to the Jaguar facility in Leicestershire.
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