Mapletree Investments, a Singapore-based real estate development, investment, and capital management company, has made its first foray into the UK’s logistics property market with the acquisition of a new property in Derby Commercial Park, valued at EUR315.1 million ($444.5 million). In addition, the company has also purchased 10 warehouses located in key logistics hubs across Spain.
Spanning a total gross floor area of 256,000 sqm, these acquisitions will be part of Mapletree’s second European logistics-focused fund, in line with the company’s strategy to deepen its presence in the logistics sector and expand its global footprint. The fund is expected to be launched after achieving sufficient scale.
Chief Executive Officer of Mapletree’s European commercial and logistics arm, Ralph van der Beek, says that logistics remains a highly attractive sector that consistently enjoys strong demand from both occupiers and investors. With e-commerce continuing to thrive and companies seeking to secure and extend their supply chains, van der Beek adds that the company looks forward to the new assets delivering stable and recurring returns over the long run.
The UK property, situated in Derby Commercial Park, provides access to major arterial roads such as the M1, A50, and A6. It is also in close proximity to the city centre and East Midlands Airport. According to Mapletree, the tenant has recently renewed its long-term lease.
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Meanwhile, the assets in Spain are located across the first rings of Barcelona, Valencia and Madrid and are well-positioned in core logistics hubs with immediate access to the city centre via various transportation modes. These assets are set to benefit from third-party logistics providers and manufacturers that are highly committed to the properties, owing to their proximity to their production facilities and investments in automation and fit-outs on site.
Following these acquisitions, Mapletree now owns 80 logistics assets across eight countries.