Stevens & Bolton has advised Kingmere Ltd on the purchase of a logistics unit of approximately 16,680 sq ft on Walton Road Industrial Estate in Portsmouth, which is wholly let to Menzies Distribution Ltd.
Kingmere focuses solely on industrial investments within Hampshire and Surrey. The acquisition is a great addition to Kingmere’s portfolio, reflecting the current market trend of logistics sites being snapped up by investors. Stevens & Bolton’s ongoing close working relationship with the client was further cemented through this deal. The purchase was also a great opportunity to highlight the firm’s industrial and logistics expertise.
Sarah Wickens, Managing Director of Kingmere, commented: “Stevens & Bolton was a great help to us, as always, in navigating a complex acquisition despite the challenging market conditions and the logistics sector being particularly in demand at the moment.”
Real Estate Partner Daryl Rivero commented: “This transaction demonstrates property investors’ continuing demand for logistics sites across the UK in the wake of Brexit. We were delighted to assist Kingmere with its purchase of this site which constitutes a strategically significant addition to its property portfolio.”
The Stevens & Bolton team was led by Daryl Rivero, supported by Alice Donzelot (real estate) and Valerie Fogleman (environment).
If you are an investor, developer or occupier of logistics space and have any queries or would like to discuss your requirements, including for acquisition, disposal or development, please get in touch with us.
Daryl Rivero