P3 enters the UK market. Acquires properties from Segro

P3 Logistic Parks is starting operations in the UK. The company has acquired two logistics properties from Segro, with a total area of 81,000 sqm. The properties are located in Crick (36,000 sqm) and Kettering (45,000 sqm).

"The acquisition of these two logistics assets located in the UK is a milestone in P3's development, as it introduces us to a key market known for its thriving logistics industry. The country has always been an important hub for international trade, so we are pleased to offer our expertise and resources there, meeting the changing needs of companies operating in the region." - explains Frank Pörschke, CEO of P3 Logistic Parks.

The two newly acquired logistics assets are strategically located within the so-called "Golden Triangle," providing seamless connectivity to major transport networks and key industrial hubs in the UK.

All facilities were built from 2010 onwards and were developed according to modern Class A specifications, meeting BREEAM "Very Good" certification requirements, and are fully leased to three tenants.

For the investment, P3 is collaborating with Roebuck, an institutional investment manager specializing in the pan-European logistics sector. Roebuck is supporting P3's entry into the UK market with its broad expertise and track record, and by leveraging its experience in working with tenants, it will manage both assets during the initial phase of P3's expansion in the UK.

"P3's entry into the UK market reflects our long-term vision and our strategic development plans. We carefully selected these two logistics assets because they fit our commitment to offering our customers excellent service quality and full operational efficiency while maintaining sustainability principles." - says Otis Spencer, CIO of P3 Logistic Parks.

"This sale has enabled us to dispose of a number of relatively small holdings, all of which were earmarked for sale in the short to medium term, allowing us to reinvest capital into our successful development program. It also demonstrates the continued investment appeal of high-quality logistics assets following the significant valuation correction that has occurred over the past year." - adds David Proctor, Managing Director of Group Investment at Segro.

source: press materials