The scheme will comprise a single unit of 770,000 sq ft, with the option to acquire the remainder of the 65 acre site to allow for the delivery of a further 500,000 sq ft unit. The property will be delivered to market leading sustainability credentials, targeting a BREEAM Outstanding certification and EPC ratings of ‘A’ for the warehouse and ‘A+’ for the office element.

Situated in a prime location less than one mile from Junction 34 of the A1(M), giving access to the M1, M18 and M62 motorways, thereby providing access to the north and south of the UK. The scheme also benefits from quick access to the ports of Hull, Immingham and Grimsby, while London can be reached in less than three hours, and Doncaster Rail Freight Terminal is under 12 miles away.

The transaction is the sixth acquisition that Barings has completed in the European logistics market this year which includes two further logistics property transactions on behalf of BREEVA II, at Mantua in Italy and in Lisbon in Portugal. Barings, on behalf of BREEVA II, has also recently achieved practical completion on its Momentum London site which comprises almost 400,000 sq ft of urban logistics space in Rainham, East London.

Henry Marlow, Director, UK Real Estate Acquisitions, at Barings, said: “The ability to deliver a near 800,000 sq ft unit provides a rare and extremely attractive opportunity in a market segment which is particularly devoid of supply but contrasting with a healthy number of current tenant requirements.

Rory Allan, Managing Director and Portfolio Manager at Barings said: “Logistics continues to be a key conviction sector for Barings with its favourable macro drivers and this most recent acquisition will complement BREEVA II’s existing multi-jurisdictional portfolio which extends to over 7m sq ft.  Our focus continues to be on delivering best-in-class sustainable product, which remains in high demand from tenants and investors alike.  The current market dislocation presents a compelling opportunity to deploy capital in prime locations at heavily corrected pricing and we are actively assessing further logistics investments in our preferred Western European markets of France, Germany, Iberia, Italy, the Netherlands, Nordics and UK.

Contacts
Polly Warrack/Ben Monteith (SEC Newgate)
baringsRE@secnewgate.co.uk

Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers.  Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $406+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.

*As of March 31, 2024