London-based property investment firm Aprirose has added to its portfolio of industrial assets with the acquisition of a major glass manufacturing facility in Doncaster in the UK.
In an off-market transaction with a private developer for an undisclosed sum, Aprirose has secured the freehold of the 673,000 ft2 (59,200 m2) facility which is occupied by Ardagh Glass, the UK’s market leader in the design and manufacture of glass containers for the food and beverage industries, on a 47-year ground lease.
Located three miles outside Doncaster on a 32-acre (13 ha) plot, the main factory is made of five interconnected warehouses and is the chief manufacturing facility for Ardagh Glass in the UK. There are additional office and ancillary buildings, and the site also has a direct rail link.
The acquisition follows the recent purchase of a facility on Haydock Industrial Estate, on the M6 between Liverpool and Manchester, in line with Aprirose’s strategy to buy prime industrial and logistics assets, alongside its focus on the residential and alternative sectors.
Manish Gudka, CEO, Aprirose, said: 'With an above market ground rent yield and a tenant with an exceptionally strong covenant, we are pleased to bring this asset into our growing industrial portfolio. The acquisition represents another example of our ability to identify and execute off market transactions on highly attractive, sought after properties in burgeoning growth markets, such as Industrial.'