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Redevco has expanded its UK industrial outdoor storage portfolio with the acquisition of a 560K SF logistics facility in Widnes.
The 17-acre site is fully let to Jaguar Land Rover and operated by DHL, supporting supply chain operations for JLR's Halewood manufacturing plant in north-west England.
The property is adjacent to the Widnes Inland Rail Freight Terminal and was recently refurbished as a build-to-suit facility for Jaguar Land Rover, with a dedicated vehicle maintenance unit accounting for around 11% of the site and warehouse, parking and outdoor storage facilities comprising the rest.
The acquisition takes Redevco Logistics' IOS platform to 5.2M SF across 11 assets with €155M of assets under management, as the firm continues to target large-scale logistics sites.
While the Amsterdam-headquartered investor has historically been known for retail real estate, it has expanded into logistics through its dedicated Redevco Logistics platform, focusing on industrial outdoor storage and urban logistics assets that serve last-mile distribution, fleet operations and manufacturing supply chains.
The UK has become one of its core investment markets, alongside Germany, Spain and Belgium, reflecting strong occupier demand and a limited supply of well-located industrial land. Across Europe, Redevco Logistics has completed more than €500M of IOS transactions covering more than 16M SF.
"Assets of this scale, location and tenant quality are increasingly scarce, yet essential to the efficient functioning of supply chains,” Redevco Logistics Head Hugh Macdonald-Brown said in a statement.
Savills, Wildbrook, Air BC and Osborne Clarke advised on the acquisition.
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