The specialist UK logistics REIT, Urban Logistics, has today announced the acquisition of a logistics site in Hoddesdon, Hertfordshire, for £34.3 million.
The 12-acre site comprises of five units, three of which are let to the major dairy producer and distributor, Müller UK & Ireland Group, until 2030. Meanwhile, the other units are currently vacant with Urban Logistics stating that “several potential occupiers [are] already expressing interest.”
Richard Moffitt, Chief Executive of Urban Logistics, commented: “This is another high-quality off-market acquisition that formed part of our existing pipeline. The site is well located in the South East for delivering essential goods the “last mile” to customers and businesses. Significantly, it offers excellent opportunities for value enhancement through active asset management.”
The Hoddesdon site is strategically located seven miles from the M25 and benefits from excellent access as well as a dedicated local power supply, making it a highly attractive distribution hub.