Develop-to-core UK logistics

In 2019, PIMCO Prime Real Estate entered the UK’s growing logistics sector with a tailored develop-to-core strategy aimed at funding speculative developments. Leveraging the build expertise of a specialist logistics platform, the investment journey saw the development of XL logistics warehouses which would provide the highest quality modern space in East Midlands, West Midlands and Yorkshire – driven by the lack of available, suitable assets.

The three-asset, 137,000 sqm portfolio was delivered on time and each asset has been fully leased to prime long-term tenants. The portfolio’s strategic location within established markets connected to the UK’s ‘Golden Triangle’ means it benefits from strong infrastructure links, as three major motorways intersect this area of the country.

In addition, all the projects are committed to sustainability and have achieved BREEAM Very Good energy certifications and the EPC A energy efficiency rating.  

At stabilization, the investment had increased in value by over 30%, evidencing our high conviction towards logistic facilities in this part of the UK and proving itself an excellent addition to our client’s portfolio.