EQT Real Estate has acquired a fully leased three-asset Midlands logistics portfolio from Prologis UK for an undisclosed sum.
Sold: DC1 and DC2 at Rugby Central Park
The portfolio comprises DC1 at Nuneaton Bermuda Park and DC1 and DC2 at Rugby Central Park, both in Warwickshire, totalling around 909,000 sq ft and let to Haier, Continental and Unipart.
“The Midlands is one of the UK’s most important logistics hubs, and this portfolio is well positioned to serve the evolving needs of occupiers while benefiting from active asset management and long-term sustainability-led value creation,” said Jonathan Mackie, managing director at EQT Real Estate.
“The addition of these assets to our portfolio aligns strongly with EQT Real Estate’s strategy of acquiring modern, high-potential logistics properties in underserved markets in Europe.”
EQT Real Estate was formed through the combination of EQT and Exeter Property Group in 2021. The company has approximately £44bn in gross asset value with a portfolio spanning more than 470m sq ft across 2,000-plus properties.
Paul Weston, regional head of Prologis UK, said: “These are high-quality, stabilised assets in core locations. The transaction reflects our disciplined approach to capital allocation.
“We regularly assess where we can realise value and redeploy capital into development and other opportunities that support our long-term priorities in the UK.”
Prologis has recently started construction of four major developments at Daventry International Rail Freight Terminal, including M&S Food’s flagship national distribution centre.
Prologis was advised by CBRE and DTRE; EQT was advised by Knight Frank.
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