St. Modwen Logistics, a Blackstone company, has completed two acquisitions in Birmingham and Manchester as it continues to expand its portfolio in major cities across the country.
Financial details were not disclosed.
Network Park industrial estate is situated 1.7 miles from Birmingham City centre and was constructed in the early 2000s, comprising six high-quality modern warehouse units totalling.80,000 ft2.
In Manchester, St Modwen Logistics has also acquired Ashburton Park. The 95,000 ft2 estate is prominently located 3 miles from Manchester City centre in Manchester’s Trafford Park.
James Cooper, head of transactions, at St. Modwen Logistics, commented: 'These acquisitions further expand our footprint in two of the UK’s most established and competitive industrial and logistics locations, offering our customers access to national and international distribution networks, as well as to large urban populations which increasingly value next-day and same-day delivery services.
'We are continuing to explore additional opportunities to grow our portfolio through the development and acquisition of best-in-class logistics space in areas of structurally high demand.'