Royal London secures Fradley Park for €234m

Royal London Asset Management Property has acquired Fradley Park, an industrial estate in Lichfield, West Midlands, for £197 mln (€234 mln). 

Fradley Park

This off-market acquisition positions Fradley Park as the largest industrial asset in Royal London's portfolio.
The 70-hectare site boasts approximately 153,320 m2 of high-quality industrial units and is occupied by leading logistics and manufacturing firms, including DHL, Geodis, Hawkins Logistics, Palletways, and Faurecia. 
Its strategic location within the UK's motorway network and access to a substantial workforce solidify its status as a crucial logistics hub, particularly valuable amid the growth of e-commerce. 
This acquisition aligns with Royal London's broader strategy to expand its £3.4 bn (€4 bn) portfolio through investments in prime UK industrial and logistics properties, aiming to deliver long-term returns for its investors.
Matthew Barnes, investment manager at Royal London Asset Management Property, said: "Fradley Park, which will be the largest industrial asset in our portfolio, has strong fundamentals and deliverable opportunities for active asset management and development. With the outlook for the Midlands logistics market remaining highly positive, this is a timely and strategic addition to our portfolio."
Will Edwards, portfolio fund manager at Royal London Asset Management Property, said: “The purchase of Fradley Park is in line with our strategy of investing at scale into high-quality assets with an attractive occupational supply and demand dynamic that offer the potential for enhanced performance. “It demonstrates our conviction in the industrial market and complements our recent purchases of development land at Enderby in Leicester and Brackmills in Northampton.”
Pinsent Masons advises Royal London Asset Management Property on the acquisition.