Arrow Capital Partners has agreed to fund the construction of Aviator Park Phase II – which will comprise additional 280,000 sq ft of logistics space – in Ellesmere Port.

Phase I was constructed and let to Survitec on a 20-year lease shortly after completion in 2020.

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The part of the development is already owned by Arrow, after it was snapped up as part of the £180m UKWP portfolio.

The latest part of the site was acquired from Redsun Projects, which has been retained as the development manager.

Robert Howe, head of real estate Europe at Arrow, said: “Aviator is an established distribution park, strategically located next to Junction 6 of the M53 motorway and providing excellent access to Liverpool, Manchester and the wider North West market.

“This funding strengthens SIRE’s position on the site, and we intend to invest more than £500m in UK urban logistics market over the next three years, targeting urban logistics assets with income, vacancy or refurbishment potential as well as more development opportunities, both on a forward funding and forward commitment basis.”

B8 Real Estate acted for Arrow and M1 Agency acted for Redsun.

Simon Wood of B8 Real Estate added: “This transaction not only reinforces with confidence in the North West industrial market but also in Ellesmere Port as a location which is witnessing excellent levels of occupational and investment activity.

“We look forward to working with Arrow and Redsun on securing occupiers to this impressive scheme.”

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