DB Symmetry and funding partner Barwood Capital have completed the sale of Aquila, a 120,000 sq ft warehouse and manufacturing facility in Knowsley, which has been fully let to Grupo Antolin.
Aquila is one of three logistics warehouses which LondonMetric has acquired for a total of £24m, with the other two properties located in Crawley and Coventry.
Antolin is a tier one supplier for Jaguar Land Rover and will relocate its operations from Speke, to take the facility on a 15-year lease at £6.20/sq ft. The company plans to invest a further £3m on the development, including the fit-out.
Situated on a 9.4-acre site, Aquila comprises 100,900 sq ft of industrial accommodation and 18,900 sq ft of office and amenity space. The DB Symmetry and Barwood joint venture completed a £2.5m refurbishment of Aquila in April this year.
Grupo Antolin will join existing occupiers in Huyton Business Park: Halewood International; Olympic Oils; Parcel Force and Beesley & Fildes.
Simon Dixon, development director at DB Symmetry, said: “We identified the opportunity at the beginning of 2015. Thanks to the unwavering support of Knowsley Council together with the £2.3m funding we received from the Chrysalis Fund, we have secured an exceptional tenant in Grupo Antolin and created an attractive investment opportunity for FTSE 250 REIT, LondonMetric.”
LondonMetric was advised by JLL. DB Symmetry and Barwood Capital were represented by CBRE. Tony O’Keefe at LM6 represented Grupo Antolin.
The project team includes architect 5Plus, engineer Shepherd Gilmour and main contractor ISS.