Realterm has a 36,392sqft UK last-mile delivery hub to its European portfolio.
The investment manager has acquired the Bessemer Road last-mile delivery hub in a prime logistics submarket in Greater Manchester for an undisclosed sum.
The acquisition of the 3.8-acre site in Irlam, represents a significant addition to Realtermβs growing European portfolio.
The facility comprises 31,689sqft of warehouse space, with 4,430sqft of offices and a 273-sqft gatehouse.
Realterm said it will undertake βa comprehensive refurbishment programme focused on enhancing the office space, increasing power capacity and improving ESG credentials β targeting EPC Aβ.
Bessemer Road is vacant and available for lease.
Tamsin Layton, vice president of investments, UK, Realterm, said: βWe identified a unique opportunity to secure a highly functional cross-dock facility in Irlam, a key logistics hub with exceptional connectivity to Greater Manchester and the northern regions of the UK.
βThe siteβs operational flexibility and robust access to major motorway networks position it perfectly for a diverse range of modern logistics users, from last-mile delivery to 3PL operations.β
Balazs Lados, managing director, fund manager at Realterm added that Greater Manchesterβs industrial market βcontinues to demonstrate compelling fundamentals β strong rental growth, a constrained development pipeline, and surging demand for final-mile delivery infrastructureβ.
Lados said: βOur investment here reflects Realtermβs continued confidence in UK and European logistics markets, where weβre actively growing and pursuing supply-chain-critical assets that create efficiency for our tenants.β
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