ACRE Capital Real Estate have advised Next Group plc on the sale of a distribution warehouse development located at South Elmsall.
The property will extend to a total of 820,897 sq ft GIA on a 54-acre site, reflecting a very low site cover of 35%. On practical completion, the entire property will be let to Next Group Plc for a term of 23 years without breaks.
The property was acquired by Abrdn for a purchase price of £114,800,000.
Location: South Elmsall
Property Type: Distribution Warehouse
Transaction Type: Development Funding
Client: Next Group plc