Cabot Properties acquires Sheffield distribution warehouse in a deal brokered by CPP
December 16th, 2020
Specialist real estate consultants CPP brokered a deal resulting in Cabot Properties acquiring a 96,000 sq ft distribution warehouse with vacant possession and simultaneously completed a new 10-year lease on the building to Ancient Wisdom.
The property is located on Shepcote Business Park within a short drive to Sheffield city centre and benefits from immediate access to J34 of the M1.
Richard Wright, Director at CPP commented, ‘Despite the pandemic, the South Yorkshire logistics market has continued to see significant demand from occupiers with take-up levels well above the 5-year average of 3m sq ft. This combined with restricted supply levels has seen headline rents increase in recent years, with further rental growth expected in the future. Urban logistics assets such as this property are becoming more and more desirable for occupiers due to the ever-accelerating e-commerce demands.’
Michael Williams of Cabot Properties commented, ‘We are very pleased to have closed this transaction which was introduced to us by CPP. It is a modern, well specified building and represents an attractive addition to our UK Value Add portfolio. We are continuing to grow our Core and Value Add portfolios in the UK targeting industrial buildings in well connected, under supplied locations.’
About Cabot Properties
Cabot Properties is an international private equity real estate investment firm exclusively focused on industrial properties. Formed in 1986, the firm is a leading investor, developer and operator of industrial properties throughout North America, the United Kingdom, Europe and Australia. Cabot has invested over $10 billion in industrial real estate, managed nearly 3,900 tenants and operated over 1,400 buildings totalling approximately 190 million square feet. Cabot is headquartered in Boston with affiliated offices in London, Sydney, Dallas and Chicago.