A cross-firm team has advised Slate Asset Management, a global investor and manager focused on essential real estate and infrastructure assets, on its acquisition of Morrisons Regional Distribution Centre in Bridgwater, UK from Aviva Investors.

The Centre is a high-quality, 780,000 square foot distribution facility that is fully leased by Morrisons, a leading UK grocer, on an index-linked and triple-net basis.

It is Morrisons' only distribution facility in the Southwest UK and is strategically located on the most important motorway axis in the region with excellent transport connections to South England and South Wales. The Centre is essential to Morrisons' supply chain, operating 24 hours a day, seven days a week to serve nearly 20% of Morrisons' supermarket locations.

Benefitting from strong ESG credentials, the Centre features more than 4,000 rooftop solar panels, rainwater harvesting systems, and on-site recycling. Morrisons also continues to actively invest in upgrades and technologies that are further improving the sustainability and operational resiliency of the Centre.

Sally Pinkerton, Head of International Real Estate, co-ordinated the transaction which was led by Real Estate Partner Matt Walker, supported by Senior Associate Aquib Yusaf and Paralegal Elizabeth Wheeler. International Real Estate Finance Partner Nick Turner, supported by Senior Associate Alice Bucharova and Associate Emma Magee, led on the debt financing aspects of the transaction.

Gowling WLG is home to one of the UK's largest real estate practices. For further information, visit our Real Estate page.