Sergo-Moorfield acquires UK Logistics Fund
A 50-50 joint venture of industrial REIT Segro and private equity fund manager Moorfield has completed the acquisition of the UK Logistics Fund (UKLF) for £315m (EUR 375m). The vendors were Hermes Real Estate Investment Management, Legal & General and LaSalle Investment Management.
The deal was first announced on 19th December last year.
UK’s first ‘Airport City’ unveiled
The Chancellor of the Exchequer, George Osborne, has unveiled plans for the development of a £659million ‘Airport City’ – the first of its kind in the UK – at Manchester Airport in the North West of England. The site is expected to deliver 1.4 million sq ft of logistics and warehousing.
Designated as one of the UK Government’s new Enterprise Zones last March, the Airport City project has received a substantial amount of interest and the detailed masterplan created by Manchester Airports Group (MAG), sets out the vision to transform Manchester Airport from a transport hub into an international business destination in its own right.
‘Rail motorway’ proposed from UK to Russia
New technology on offer at a key logistics site in Calais is to revolutionise the way freight is transported from the UK to Eastern Europe and beyond.
German company CargoBeamer is to target the UK logistics industry with its innovative system, which lifts unmodified lorries - also known as semitrailers and megatrailers - onto trains when its new facility at the Calais Premier logistics park opens.
IMHX: stronger by association
![IMHX_2013_Logo_Small_[1]_thumb.gif](http://www.pressonshd.com/contentimages/2011images/IMHX_2013_Logo_Small_[1]_thumb.gif){kind=logo}
With the International Materials Handling Exhibition (IMHX) now just over a year away, the show’s organisers are gearing up its promotional campaign.
IMHX’s co-owners – Informa Exhibitions and the British Industrial Truck Association (BITA) – are delighted with the show’s progress.
Logistics property take-up highest since 2009
Take-up in the logistics and industrial sectors across the UK totalled 10.39 million sq ft in the third quarter of 2011 according to BNP Paribas Real Estate, the highest take up figure since Q3 2009.
Kevin Mofid, logistics analyst at BNP Paribas Real Estate said: “Take up for 2011, to the end of Q3, has totalled 24.95 million sq ft which is 200,000 sq ft less than the same three quarters for 2010. However based on active requirements and buildings which are known to be under offer, we expect that take up for the whole of 2011 should pass the 30 million sq ft mark which will be an increase on the 29.86 million sq ft achieved in 2010.”
Logistics stock falls to historic low
The level of logistics stock has fallen to an historic low in the Midlands and South East, according to The BNP Paribas Real Estate Logistics Index, compiled in conjunction with IPD. With a non-existent development pipeline due to investors reluctant to build speculatively, UK distribution is facing a real challenge as retailers and suppliers are forced to consider alternatives.
The Logistics Index covers a sample of 527 Logistics properties across the UK, totalling £5.3bn. This amounts to 27% of the total IPD Industrial Segment, worth £19.6bn as of the end of 2010. The Index shows that returns for the Logistics sector, which have generally been higher than their Standard Industrial counterparts - at 1.1% and 0.5% respectively over five years, or -1.8% and -3.6% over three - have, in the last two years, increasingly mirrored those in the industrial sector, as investor sentiment and occupier demand in the sector has wavered.
Page 1 of 25 pages
1 2 3 > Last ›
