Hercules Portfolio
Size
1,930,000 sq ft
Asset type
Warehousing/Logistics
Postcode
Portfolio
Directions
Description
Acquired in Q1 2021, off-market, via multiple acquisitions. Portfolio value significantly enhanced through active asset management. Magna Park, Lutterworth, a key lease regear was secured on 226,000 sq ft providing a new unexpired term of 21 years with a significant rent uplift.
Omega, Warrington, a new 168,000 sq ft unit constructed and pre-let to a strong covenant on confidential terms for 20 years straight. Implementation of a number of ESG and low carbon initiatives, working closely with the occupiers to implement a green agenda and future proof the assets.
A sale was completed in Q1 2022 to a leading European logistics investor. The sale realised a significant capital value uplift generating a substantial return for our investors.
Location
The portfolio included ten prime single let distribution assets, providing a substantial UK wide logistics platform.
50% of the portfolio is located within the ‘Golden Triangle’, 16% in the South East and the remainder strategically located in the prime Midlands and Warrington markets.