The assets were acquired from real estate funds advised by affiliates of Blackstone Europe LLP, with consideration comprising a combination of cash and the issue of new equity at a c.13.5% premium to BBOX’s prevailing share price.

With a resultant portfolio valued at nearly £8 billion, the acquisition strengthens the Company’s competitive edge through increased asset depth across big box, urban and multi-let industrial logistics formats – further broadening its client offering and supporting a diverse range of occupier needs with greater operational flexibility. It will also deliver attractive returns for shareholders, supporting the Company’s earnings growth ambitions.