InfraRed Capital Partners Limited (InfraRed) is pleased to announce the sale of a 1m sqft logistics building in Dunfermline, Scotland to Tritax for an undisclosed sum.
InfraRed acquired the site in early 2011 with a view to constructing the distribution centre for Amazon. It forward-funded the development of the building on the basis of a pre-let to Amazon.co.uk Limited during 2011. Construction works commenced immediately after site acquisition and practical completion of the building took place in October 2011, following a 9-month construction period.
James Cooper, Director at InfraRed responsible for industrial and logistics in the U.K., commented:
“This opportunity allowed InfraRed to work with Amazon supporting their expanding U.K. operations. Despite the challenging timeline, the building was completed ahead of schedule and under budget. We look forward to funding further projects of this nature with high quality partners as we continue our investment activity across the European logistics sector.”