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<p><strong>LONDON</strong></p><p>M7 Real Estate (&ldquo;M7&rdquo;), the pan-European investor and asset manager, announces the acquisition of Broadheath Network Centre in Greater Manchester for &pound;47&nbsp;million, from Network Space Developments.</p><p>The acquisition is the first undertaken by M7 on behalf of the newly formed pan-European industrial &amp; logistics joint venture between Oxford Properties, a leading global real estate investor, developer and manager, and AustralianSuper, Australia&rsquo;s largest superannuation fund. The joint venture, which is named the European Supply Chain Income Partnership (&ldquo;ESCIP&rdquo;), is aiming to build a &euro;4.5 billion portfolio in the next three to five years and was formed through the acquisition by AustralianSuper of a 50% stake in Oxford&rsquo;s c.&nbsp;&euro;840 million industrial &amp; logistics portfolio and its M7 platform. The joint venture is expected to complete at the end of Q1 of 2025 and is conditional, amongst other things, on customary regulatory approvals.</p><p>The c.&nbsp;206,000&nbsp;sq&nbsp;ft prime, new, multi-let industrial estate was recently developed by Network Space Developments who acquired the site in 2021 ahead of building out the facility which now comprises 25 high-specification units ranging in size from 2,080 sq ft to 41,738 sq ft.</p><p>Broadheath Network Centre was constructed using recycled steel and concrete, and includes EV charging points which alongside a number of other environmental initiatives have led to its BREEAM &lsquo;Very Good&rsquo; and EPC &lsquo;A&rsquo; ratings. The estate is currently 66% let with key occupiers including Maersk, National Trust, Options Greathire, Xpand Logistics, Socotec and Torque Golf. M7 will undertake an active asset management strategy to lease up the remaining vacant space and drive the income profile of the asset.</p><p>Strategically located in Altrincham, an established logistics hub in Greater Manchester, Broadheath Network Centre benefits from direct access to the M56, M60 and M6 motorways, as well as its proximity to Manchester Airport, enabling both local and national distribution.</p><p><strong>David Ebbrell, CEO M7 Real Estate, said:</strong>&nbsp;&ldquo;This acquisition is our first investment on behalf of the newly formed European industrial &amp; logistics strategic partnership with Oxford and AustralianSuper announced earlier last week. To have concluded this transaction so soon after agreeing that joint venture underlines the strong ambitions we all have to grow the ESCIP platform. The Broadheath Network Centre typifies the type of asset we want to add to this portfolio, being a prime last-mile asset in a high growth urban logistics location within a strong and affluent regional city. We now look forward to leveraging the M7 team&rsquo;s asset management expertise, building on the leasing momentum already achieved by Network Space Developments, to let up the remaining vacant space.&nbsp; At the same time, we are actively pursuing high-quality urban logistics assets in key European markets, aiming to capitalise on robust occupier demand.&rdquo;</p><p><strong>Alicia Peters, Vice President of Logistics &amp; Residential, Oxford Properties, added:&nbsp;</strong>&ldquo;This transaction, coming days after the formation of the joint venture with AustralianSuper, is a real statement of intent as we look to grow ESCIP into a leading, &euro;4.5 billion, pan-European logistics portfolio<strong>&nbsp;</strong>over the next three to five years. We believe this is an attractive moment in the cycle to deploy capital into European logistics and our high conviction investment strategies.&rdquo;</p><p><strong>Stephen Barnes, NSD Managing Director, said</strong>: &ldquo;We are delighted to have sold Broadheath Networkcentre to M7 and Oxford. Completed in March this year, the scheme is already 66% let including two further lettings completed in recent weeks, achieving a new headline rent &ndash; a testament to the quality of the scheme, its location, design and sustainability credentials. The scheme&rsquo;s delivery is the result of a well-established and successful partnership between ourselves, Trafford MBC who have provided debt finance, and the principal contractor Bansco.</p><p>&ldquo;The sale process with M7 and Oxford has worked incredibly smoothly &ndash; a result of our preparedness and the hard work and dedication of both our corporate teams, led by Dan Adamson, together with M7 and Oxford&rsquo;s teams. We wish to thank all those involved for ensuring a swift and successful conclusion.&rdquo;</p><p>M7 Real Estate was represented by Savills, Jones Day, Deloitte, TFT Consultants and Nova Ambiente.</p><p>Network Space was represented by B8RE, Gateley and Grant Thornton.</p>

News

First transaction for newly formed Oxford Properties and AustralianSuper joint venture

Oxford acquires Manchester industrial estate from Network Space Developments for £47 million via M7

legal-notice

Legal Notice

<h2 class="">Legal notice</h2>
<p>For address purposes only, legal notice required to be delivered by hand, overnight delivery, mail or other similar non-electronic method pursuant to the terms of any legal agreement binding OPGI Management Limited Partnership or any of its affiliates (&ldquo;Oxford&rdquo;) (such agreement, being an &ldquo;Applicable Agreement&rdquo;), shall be good and valid notice if received at the address set forth below, notwithstanding any other address designated for Oxford in such Applicable Agreement to the contrary.</p>
<p class="">Except for the address set forth below, the manner and method of legal notice delivery and all other matters in connection therewith shall continue to be governed by the Applicable Agreement.</p>
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<div class=""><img src="https://digitalasset.oxfordproperties.com/Attachments/legal-note/Canada-Map-Tan.jpg" alt="" /></div>
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<h4>Canada</h4>
<p>OPGI Management Limited Partnership</p>
<p>100 Adelaide Street West, Suite 900 <br />Toronto, Ontario M5H 0E2 <br />Canada</p>
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<div class=""><img src="https://digitalasset.oxfordproperties.com/Attachments/legal-note/Usa-Map-Clay.jpg" alt="" /></div>
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<h4>USA</h4>
<p>Oxford I Asset Management USA Inc.</p>
<p>450 Park Avenue <br />9th Floor<br />New York, NY 10022<br />USA</p>
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<div class=""><img src="https://digitalasset.oxfordproperties.com/Attachments/legal-note/Europe-Map-Olive.jpg" alt="" /></div>
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<h4>Europe</h4>
<p>Oxford Properties Management (UK) Limited</p>
<p>The Leadenhall Building<br />122 Leadenhall Street<br />London<br />EC3V 4AB<br />United Kingdom</p>
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<div class=""><img src="https://digitalasset.oxfordproperties.com/Attachments/legal-note/Australia-Map-ForestGreen.jpg" alt="" /></div>
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<h4>Australia</h4>
<p>Oxford Properties Management Australia Pty Limited</p>
<p>Deutsche Bank Place<br />Level 19, Suite 19.02<br />126 Phillip St.<br />Sydney, NSW 2000<br />Australia</p>
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<div class=""><img src="https://digitalasset.oxfordproperties.com/Attachments/legal-note/Singapore-Map-Maroon.jpg" alt="" /></div>
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<h4>Singapore</h4>
<p>OMERS Asia Pte. Ltd.</p>
<p>One Raffles Quay<br /><span>#41-01 North Tower</span><br />Singapore 048583</p>
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