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Neovia and Griffin UK complete 1.65 million sq.ft. warehouse campus sale and leaseback

Neovia Logistics, a third-party logistics provider, has completed the sale and leaseback of its Desford Campus, Leicester, with Griffin UK, an international real estate investment and development fund managed by Griffen Capital. The sale price was undisclosed.

The 1.65 million sq. ft. (c. 153,290 m²) facility at Peckleton Lane comprises three modern warehouse buildings and is strategically located in the heart of the East Midlands golden triangle, providing swift access to Junction 21, M1 and Junction 3, M69. In addition to the 82-acre operational campus, Griffen UK has also acquired an adjoining 46-acre site with immediate development potential from Neovia.
The 1.65 million sq. ft. facility comprises three modern warehouse buildings.
“Having operated from this campus since 1987, Desford is Neovia’s largest global facility and continues to be of key operational importance. This transaction aligns with our asset-light global business model and establishes a significant partnership with a leading property investor for future collaboration,” commented Neovia CEO Pat Olney.
“This acquisition provides Griffen with an excellent opportunity for both large-scale development and potential future redevelopment,„ explained Rui Nobre, CEO of Griffen. “Griffen continues to have a high conviction in the UK logistics sector so, notwithstanding the outsized challenges brought about through trying to close in the midst of a financial and pandemic crisis, we see this as a lucrative golden triangle purchase to add to our institutional grade portfolio of strategically located logistics assets in the UK,“he continued.
“Both the Neovia and Griffen teams worked tirelessly to get this across the line and we are looking forward to the ongoing partnership with Neovia,” he added.

Neovia were advised by Dove Haigh Phillips, JLL and Walker Morris. Griffen were represented by Burbage Realty and Trowers Hamlins.
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