Zara owner acquires 850,000 sq ft Amazon shed

Pontegadea, the family office of billionaire Amancio Ortega, has paid a reported £81m for PLP’s Knowsley fulfilment centre, Place North West understands.

Completed in 2022, the 850,000 sq ft unit is let to Amazon.

The deal is among the largest industrial transactions in the North West this year and reflects a net initial yield of 5%, according to sources with knowledge of the transaction.

Pontegadea declined to comment. PLP was contacted for comment.

The purchase is the latest for acquisitive Pontegadea, which has bought a hotel in Paris and offices in Edinburgh already in 2025.

Pontagedea also acquired a 49% stake in Brookfield’s ports business earlier this year.

Ortega is 89 and founded Zara 50 years ago. He has an estimated net worth of more than $120bn, putting him comfortably in the top 20 richest people in the world.

Zara is part of the Inditex group of brands, which includes Massimo Dutti, Bershka, and Pull&Bear.