Amazon’s 2 million ft2 plus warehouse in Wakefield, West Yorkshire has sold for a record breaking £233 million – believed to be the largest logistics warehouse investment sale in the UK so far.
International real estate investor Arrow Capital Partners, secured the multi-storey logistics warehouse at the Wakefield Hub from Mountpark Logistics.
Once the development phase of Wakefield Hub is complete, the scheme will have a gross internal area of 2,009,495ft2 over ground and three mezzanine floors fitted out to operate as an Amazon Robotic Sortable Facility. The long-term lease to Amazon creates a strong covenant with annual rent reviews that are index linked to the consumer price index.
The building is targeting a minimum BREEAM rating of Very Good and an EPC rating of A, incorporating many sustainable features such a photovoltaic panels, electric vehicle charging points, cycle shelters and a bus terminal to facilitate public transport and further minimise carbon emissions.
It will have parking for 791 cars and 150 HGVs as well as dock and level access doors along two sides. It is thought represent a capital investment of some £120 million and will support more than 1,500 jobs when up and running
Commenting on the acquisition, Marty McCarthy, Managing Partner at Arrow Capital Partners said: “The Wakefield logistics warehouse is a highly attractive core asset, fitted out to the highest specification and secured on a long-term lease to the world’s leading e-commerce business. This is an excellent example of the type of next generation prime logistics facility, key infrastructure like in nature, that are currently being developed to meet the needs of an increasingly complex e-commerce and logistics occupier market.
“By developing multi-storey facilities like this one, we are able to significantly increase the amount of space available to e-commerce businesses in strategically important locations where there is fierce competition for land, while reducing our tenant customers operating costs.”
Arrow were advised by CBRE and Mountpark by JLL.