Our real estate team has advised NFU Mutual on its sale of a portfolio of prime logistics assets to Barings, one of the world's largest diversified real estate investment managers, for £234 million.

The eight warehouses are situated in prime locations in the UK, comprising a total area of 1,477,431 sq ft. The fully-let portfolio includes HelloFresh at Central M40 Banbury, two units let to GKN at Avonmouth, Rolls-Royce at Sherwood Park Nottingham, Eddie Stobart at DIRFT Daventry, Eurocell at South Normanton, Countryside Properties at Warrington and the recently developed Deichmann distribution unit at Centrix Park Corby.

NFUM built up the platform through a strategy of targeting prime industrial assets with strong fundamentals across the country.

The real estate team from Gowling WLG advised on the sale of all the assets, and was led by partner Dan Gwilliam, with support from partners Philip Baker and Lee Nuttall, legal director Denise Sexton, and principal associates Hannah Daeche, Philippa Satterthwaite and Meera Lakhani. With assistance from senior associate Laura Harris, associates Sophia Hoondle and Alexander Edwards, and legal apprentices Megan Cooling and Owen Richardson.

Dan said: "This transaction reflects the underlying appetite for prime logistics portfolios in the UK that can demonstrate strong investment fundamentals and the efficacy of NFU Mutual's investment strategy notwithstanding changing market conditions. For NFU Mutual this provides strong return on investment that helps to achieve their industrial strategy aims. We're really pleased with this successful outcome for our longstanding client having advised on all aspects of the project and the establishment of the platform for the portfolio."

Jon Brice, fund manager, NFU Mutual, said: "The transaction represents a continuation of NFU Mutual's industrial strategy. I would like to thank all those involved in this transaction, in particular the team at Gowling WLG."

Gowling WLG is home to industrial and logistics sector-focused experts who have been at the heart of the resurgence in the logistics market. For further information take a look at our services or contact a member of our team.