Mirastar buys Midlands shed as part of £170m deal
PLP has sold an asset in Staffordshire alongside three more in Crewe, Ellesmere Port, and Wakefield, to KKR’s European logistics investment arm.
Together the four fully let units total 1.25m sq ft and were bought by Mirastar for £170m. The Crewe asset includes a 460,000 sq ft unit let to TK Maxx. In Ellesmere Port, Mirastar has bought two units totalling 228,000 sq ft.
PLP Stafford is a 345,000 sq ft shed Stone Business Park let to third party logistics firm Super Smart Service. The Wakefield scheme offers 311,000 sq ft across two units at Silkwood Park.
The deal is not the first between Mirastar and PLP. In 2024, the pair shook hands on a deal that saw the latter sell close to 900,000 sq ft of sheds in Sheffield, Salford, Crewe, and Liverpool.
Ekaterina Avdonina, chief executive at Mirastar, said: “This acquisition reflects our continued conviction in the long-term fundamentals of the UK logistics sector.
“The portfolio’s high-quality assets, strong occupier base and resilient income profile provide an excellent foundation for value creation, and we look forward to leveraging Mirastar’s operating expertise to support the assets’ continued growth and performance.”
Neil Dickinson, chief investment officer at PLP, said: “The sale of this portfolio demonstrates our ability to identify opportunities, execute our business plan and create meaningful value for our investors.
“The transaction reflects the quality of the assets, the hard work of our team and continued demand for well-positioned real estate. We remain excited by the opportunities we see in the market and look forward to deploying capital to develop the next generation of investments.
KKR and Mirastar were advised by DTRE. PLP was advised by CBRE.
