Across the UK, retailers and distributors were requesting ‘last mile’ support in the form of well-located warehouses in order to satisfy consumer delivery demands. We responded quickly by forming a small-scale logistics accumulator portfolio that could be sold with a portfolio premium.
Over a year, Nevado grew to include six assets and two sites: four in Greater Manchester, and one each in Peterborough, Maidstone, Leicester and Banbury, ranging in size from 87k sq ft to 330k sq ft. The two speculative development sites were built out to a high specification, with both achieving an EPC ‘A’ and one BREEAM ‘Very Good’ rating.
The strong locations and superior quality of the assets attracted a high level of investor interest and tenant demand, resulting in us selling all but one small asset as part of a portfolio in 2016.