Elite Partners Capital buys 723,000 sq ft Wrexham asset
The Singapore-based investor paid more than £30m for the distribution facility, let to a subsidiary of e-commerce giant the Very Group.
Elite Partners Capital bought the 723,000 sq ft complex, which sits on a 46-acre site within the 1,360-acre Wrexham Industrial Estate, from an unnamed UK pension fund.
The asset, consisting of two detached industrial warehouse facilities, is let to Shop Direct Home Shopping, which pays £1.8m a year in rent.
The company holds two 10-year leases on the units, which were signed in June 2021.
B8 Real Estate acted for the vendor and Colliers advised EPC.
Victor Song, chief executive of Elite Partners Capital, said: “We believe that this asset is particularly well-placed to benefit from the highly dynamic logistics market in the UK, where the demand for logistics warehouses remains strong and resilient.”
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