St Modwen Logistics, a UK logistics developer-manager owned by Blackstone, has expanded its portfolio with the acquisition of two assets in Burton-upon-Trent and Coventry.
Financial details were kept confidential.
In Burton-upon-Trent, the firm has acquired a 381,000 ft2 (35,000 m2) unit on the Centrum West Logistics Park, occupied by Palletforce, a leading freight company.
The unit, which serves as Palletforce’s UK headquarters, is a cross-docked facility with low site coverage and parking provision for 238 HGV vehicles. It is located in the heart of the town and is close to St Modwen Park Burton and adjacent to the A38 dual carriageway which connects to the M1, M6 and M42 motorways.
The second acquisition involves a 180,400 ft2 (17,000 m2) distribution unit located in Middlemarch, close to Coventry city centre, occupied by Palletline. The facility provides modern office space across two levels as well as parking provision for 90 vehicles and on-site power generation. It is located adjacent to Coventry Airport and close to the M6, M40 and M42 motorways.
Oliver Smith, senior investment manager at St Modwen Logistics, said: ‘These facilities in Coventry and Burton on Trent present a rare opportunity to acquire prime warehouse units in the logistics “golden triangle” and are part of the wider vital national infrastructure that are fundamental to supply chains.
‘Alongside our ongoing development programme, they will meet the strong demand for high quality developments, allowing our customers to run and grow their businesses while helping them achieve their ESG ambitions.’