- £9 million purchase consideration (£4.6 million equity invested)
- prime last mile logistics area in Heathrow, West London
- 10.5% target net investor IRR (target 4 year investment period)
- 5.0% contractual annual cash on cash yield (in GBP)
Westbrooke Alternative Asset Management, through our Westbrooke Argo Last Mile platform, is pleased to announce the successful acquisition of a 65,500 sq. ft. last mile logistics facility in Heathrow, West London (the “Property”).
The Property is leased to Berry BMW, a leading authorised BMW and MINI car dealership franchisee and is utilised for storage, distribution and electric vehicle charging. The site is of significant importance due to its excellent strategic location between BMW dealership premises across West and South West London.
This acquisition represents the second acquisition alongside our partners, Argo Real Estate Limited, in our Westbrooke Argo Last Mile platform. Westbrooke Argo Last Mile seeks to capitalise on the acceleration of the e-commerce sector and the resultant supply and demand imbalance within the UK last mile logistics sector, by creating and consolidating a portfolio of smaller, strategically-located UK properties with a last mile logistics underpin.
We would like to thank our investors for their continued support and look forward to a profitable relationship over the coming years.