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ACRE’s ‘Next’ logistics deal

By October 2020 Transactions

ACRE Capital have advised Columbia Threadneedle on the acquisition of Next’s distribution warehouse facility on Western Approach Business Park in Avonmouth, Bristol.

The property extends to 182,500 sq ft and benefits from an exceptional specification including two deep service yards with a cross-docked door loading provision and 12 metre eaves.

The property is Next’s Regional Distribution Centre for the South West and is let for a further six years with a fixed rental uplift in 2021 providing an exceptional income return.
The property was acquired for approximately £24,750,000.

Location: Bristol
Property Type: Distribution Warehouse
Transaction Type: Acquisition
Client: Columbia Threadneedle