Mileway acquires logistics property in London

Logistics group Mileway has announced it has acquired a 138,000 sq ft last mile logistics property in London for an undisclosed sum.

The logistics site is located in Purfleet, East London, with direct access to the A13 and M25, providing road links to Greater London and the South East. It is also within close proximity to major UK ports, airports and railways.

The property comprises a recently refurbished and well specified “cross-dock distribution” unit and grade A office space. In addition, the site was recently awarded a ‘Very Good’ in a BREEAM Rating.

Mileway acquired the property from DSV Road, and will lease the entire property back to DSV after 10 years. The property however will remain within the DSV operations as its UK headquarters.

Mileway has reportedly acquired 300 assets in 2020 totalling 18.5 million sq ft in the UK.

The firm currently owns more than 600 logistics properties across the country, with a presence in cities such as London, Birmingham, Cardiff, Glasgow, Leeds, Liverpool, Manchester and Newcastle.

Philip Cridge, country director at Mileway, said: “We are delighted to have added such a high-quality asset to our significant UK portfolio of leading last-mile logistics assets.

“The property has recently undergone a major refurbishment programme to bring it up to the very highest standards and it occupies a prime location in London, with direct access to major roads and in close proximity to some of the UK’s leading freight terminals.”

He added: “We look forward to further strengthening our existing relationship with DSV and supporting them in their future success.”

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