Frasers Logistics & Commercial Trust Invests In Second Forward Funding Opportunity In The UK
June 27, 2022 – Frasers Logistics & Commercial Trust announced that it has acquired a property to be developed at West Road, Hooton Park Airfield, Ellesmere Port in Cheshire, North West England, United Kingdom from an unrelated third party, Stoford Properties Ltd, with FLCT to fund the development by Stoford of the new facility.
The all-in maximum consideration for the Proposed Acquisition on a completed basis is £101.0 million (approximately S$171.7 million)
Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, “The forward funding acquisition presents an excellent opportunity to add a state-of-the-art logistics facility to FLCT’s growing UK logistics and industrial portfolio.”
“With a committed 15-year lease term to Peugeot, a subsidiary of the global automaker Stellantis Group, the Property will serve as its national distribution centre upon completion.”
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