Moorfield has acquired £16.25 million distribution warehouse in Alsager, Crewe from Lagan Developments.
The 324,000 sq ft distribution centre is let to Geberit, the Swiss multinational group specialising in manufacturing and supplying sanitary products until December 2020.
“As part of the logistics strategy we are targeting units with short to medium term lease lengths. The ambition is to build a portfolio of good quality, well located, institutional grade logistics units,” said Moorfield chief investment officer, Charles Ferguson-Davie.
“There is a shortage of good quality logistics units and strong demand from occupiers for these properties, which is supporting rental growth and yield compression in the sector.”