Czech-Based P3 Logistic Parks Makes UK Debut with Acquisition of Two Midlands Assets Posted on: August 2nd, 2023 P3 Logistic Parks, a leading investor, manager, and developer of warehouse properties based in the Czech Republic, has made its debut in the UK market through the purchase of two logistics assets from Segro. These acquisitions, located in the Midlands, total approximately 872,000 sq ft of space. The first asset, situated in Crick, offers around 397,500 sq ft of leasable area. The second, larger property, located in Kettering, provides over 484,500 sq ft of space. Frank Pörschke, CEO of P3 Logistic Parks, expressed his excitement over this significant expansion into the UK, a key market with a strong logistics industry. He highlighted the UK’s role as a crucial hub for international trade and commerce and P3’s readiness to cater to the changing needs of businesses in the region. These newly acquired assets are strategically located within the “Golden Triangle” area, offering excellent connectivity to major transport networks and industrial centres in the UK. All units, developed since 2010, meet modern Grade A institutional specifications, including a ‘Very Good’ BREEAM rating, and are fully leased to three tenants. P3 is collaborating with Roebuck, a Pan-European investment manager specializing in the European logistics sector, to facilitate its entry into the UK. Roebuck will manage both assets during the initial stage of P3’s UK expansion. Otis Spencer, CIO of P3 Logistic Parks, stated that this move into the UK market aligns with P3’s long-term vision and strategic growth plans. He emphasized the company’s commitment to delivering high-quality service, operational efficiency, and sustainability to its customers. David Proctor, Managing Director of Group Investment at SEGRO, noted that this sale allowed SEGRO to divest several small holdings and reinvest capital into its successful development program. He also highlighted the continued investment appeal of high-quality logistics assets. P3 was advised by Colliers on the transaction, while DTRE and ACRE represented SEGRO. Ed Plumley, Director for EMEA Capital Markets at Colliers, expressed his delight at bringing this off-market opportunity to P3 and providing focused advice as they expanded into a new jurisdiction.