Virgin Atlantic facility at Gatwick to be converted for logistics
24 August 2020
Marchmont Investment Management in conjunction with Pictet Alternative Advisors have purchased the freehold interest in Virgin Atlantic’s Training Centre in Crawley for c.£30 million.
The property comprises Virgin’s training facility extending to c.220,000 sq ft on a site of 10.39 acres and was sold subject to a short-term leaseback. This prime site fronting Fleming Way will be redeveloped to provide up to 225,000 sq ft of logistics space.
Cameron Fraser, director at Marchmont, said: “We are delighted to have completed on the purchase of this prime development opportunity as part of our strategic drive with Pictet to build a £200m+ portfolio of core UK logistics assets. We see Crawley as a key South East market with an under-supply of Grade A quality mid-box units.”