Runcorn shed sold for £27m

A 650,000 sq ft logistics warehouse in Runcorn occupied by DHL has been sold by Oxenwood Catalina for £27.4m, representing a net initial yield of 6.25%.

Oxenwood Catalina is a joint venture between Oxenwood Real Estate and Catalina Holdings.

The unit at Aston Lane North on the Whitehouse Industrial Estate, was acquired by Atlantic Leaf Properties.

The recently refurbished warehouse is let entirely to DHL Supply Chain and operates as a multi-user facility, servicing a number of retail contracts. The sale follows a successful re-gearing of the lease, extending it to December 2024.

The proceeds from the sale, the first since Oxenwood launched in 2014, will be recycled and reinvested within the sector.

Oxenwood describes itself as “a multi-sector opportunistic investor”, but said it is currently focusing on UK logistics.

DTRE acted for Oxenwood Catalina, CBRE acted for the purchaser.

Stewart Little, joint chief executive of Oxenwood, said: “Since our inception, we have assembled approximately £200 million of assets in the logistics sector with a particular focus on active management situations. Runcorn is the first sale we have concluded and demonstrates both our strength in tenant markets, but also the delivery of outperformance to investors.

“Despite increasing competition, we believe logistics continues to provide compelling opportunities to invest, and that is our current area of focus.”

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below