JLL advised Leftfield on the purchase
News release
24 June 2024
Leftfield acquires British Offsite facility at Horizon 120 Braintree
Your browser doesn't support speech synthesis.
Listen to article •
Read time: 1 sec
Leftfield has acquired a prime, hi-tech industrial and distribution warehouse at Horizon 120 in Braintree, Essex. The 137,870 sq ft unit was purchased from Abrdn for £23m. JLL advised Leftfield on the purchase.
The acquired property is a mission-critical warehouse operated by British Offsite, a subsidiary of Weston Group, which manufactures and distributes components for the new homes industry from the site. British Offsite has an unexpired lease term of 24.1 years with a passing rent of £1.21m per annum. The 137,870 sq ft facility is strategically located in the Horizon 120 business park, offering excellent connections to London and East Anglia. It boasts impressive sustainability credentials, including a BREEAM 'Very Good' rating and an EPC A.
Nico Fourie, at Leftfield said: “Leftfield continues to acquire accretive opportunities within the UK Industrial Warehouse sector. This high-specification, south-east located, warehouse comes with attractive rental growth opportunities and is an excellent addition to Leftfield Fund III, a theme-specific portfolio.”
Joel Duncan, Capital Markets Director at JLL added: "With its prime location, impressive specifications and significant potential for reversionary growth the property is undoubtedly a valuable addition to our client's portfolio. Leftfield has positioned themselves to capitalise on future market trends and rental growth in the thriving Braintree area."
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.