A Tristan Capital Partners fund has bought a £68m UK logistics portfolio from the Richardson family which includes Cransley Park, Kettering and Velocity 42, Redditch developed in partnership with St Francis Group.
The portfolio which also includes a unit of 105,000 sq. ft in Avonmouth developed by Curtis Hall, consists of 11 new-build logistics buildings.
St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development sold development ready sites to the Richardson family in December 2017 and have since worked in partnership to deliver an ambitious speculative development programme. At the time of sale 145,000 sq. ft of space was either occupied or under offer.
Talking about the deal Gareth Williams, Director at St Francis Group said: “During difficult times we are delighted to have been able to capitalise on continued investor appetite for high quality and well-located industrial warehouse stock. The St Francis Group building specification has evolved into a superior yet economical product and having regenerated both former brown field sites, we are delighted to see them sold into long term ownership.”