Segro sale heralds P3 Logistic Parks’ move into UK market

P3 Logistic Parks is making its UK debut with the acquisition of two logistics buildings from Segro. The assets, which total 81,000 sq m, are located near Northamptonshire towns Crick and Kettering.

P3 is partnering with investment manager Roebuck, a logistics specialist, which will manage both assets in the initial stage of P3’s expansion into the UK.

“The acquisition of these two logistics assets in the UK marks a significant milestone for P3, as it expands our operations into a key market known for its robust logistics industry,” said P3 CEO Frank Pörschke.

The properties are located within the so-called “Golden Triangle” area of the UK’s Midlands region and provide access to major transportation networks and key industrial centres. The units were developed from 2010 onwards to a modern Grade A institutional specification and have BREEAM very good certification. They are fully let and have three tenants in total. The Crick unit has a 36,000 sq m lettable area and the asset in Kettering, 45,000 sq m.

“P3’s entry into the UK market reflects our long-term vision and strategic growth plans,” said Otis Spencer, CIO of P3 Logistic Parks.

P3 was advised by Colliers on the transaction. DTRE and ACRE acted on behalf of SEGRO. The terms of the deal have not been disclosed.