LondonMetric Property’s £38.6 Million Acquisition of Logistics Space from Blackacre

JMW Solicitors’ Real Estate team has advised Blackacre on the deal.

Blackacre sold at a NIY of 4.5% of approximately 296,000 sq. ft. of logistics space at Port One Logistics Park to Real Estate company LondonMetric Property, with a pre-let already in place.

The FTSE 250 REIT has acquired Unit 3 at the scheme; a strategic development located close to Ipswich and Felixtowe Port, with direct access to Junction 52 of the A14; a major arterial route. Practical completion of the new unit is expected in Spring 2022.

The proximity of Port One Logistics Park to Felixstowe will make the scheme the most centrally located customs site within the Freeport East Zone, encompassing both Felixstowe and Harwich; which together form the UK’s largest container port.

Simon Maddox (Picture), Real Estate Partner at JMW Solicitors, led on the deal.

Involved fees earner: Simon Maddox – JMW Solicitors;

Law Firms: JMW Solicitors;

Clients: Blackacre;

Giulia Di Palma

Author: Giulia Di Palma