Thu, 17 Sep 2026 | COMMERCIAL PROPERTY
Crossbay, the urban logistics business of pan-European real estate investment manager MARK Capital Management, has acquired three major logistics assets in the Midlands. The assets, which are located in Birmingham and Lutterworth, total 325,000 sq ft.
The business has acquired two single-let assets in Birmingham totalling 140,000 sq ft and an 185,000 sq ft distribution centre in Lutterworth. The sites are situated within the UK’s logistics Golden Triangle and were all acquired from charitable organisations.
The assets are:
- Apex II, Tipton (Birmingham): An 85,000 sq ft asset located between the M6 and M5 motorways. The site is currently let to retail, wholesale and distribution giant A.F. Blakemore & Sons. Post-acquisition Crossbay intends to implement a targeted capex program to deliver Grade A, ESG-focused upgrades and capture underlying rental reversion.
- Coombswood Business Park, Halesowen (Birmingham): A 55,000 sq ft facility that has been let to online B2B trade platform Toolbank since construction. The low-density site offers immediate access to reversion within 12 months.
- Unit 3320, Magna Park, Lutterworth (East Midlands): A prime 185,000 sq ft distribution asset that is fully let to VWR International Ltd, which has operated its main UK distribution hub at the site for over 30 years.
Devan du Plooy, Managing Director at MARK Capital Management, commented: “Our deep origination network, growing dedicated Crossbay team, and full lifecycle capabilities, together mean we can continue to deliver value for our LPs, who increasingly seek access to the urban logistics segment thanks to its highly defensive profile.”
Rodney Hunt, Vice President at Crossbay, added: "These acquisitions underscore our continued conviction in core UK regional logistics hub assets with strong fundamentals and clear reversionary upside. Broader repricing across the market has maintained an attractive entry point, following the highs of the pandemic-era boom"
The acquisitions of the three sites are described as further accelerating Crossbay’s momentum in the UK, where its current portfolio exceeds 1.75m sq ft. The business has delivered strong asset-management performance across the UK, including one of West Yorkshire's largest industrial letting deals of last year.
In addition to its activity in the UK, Crossbay also invests across Germany, France, Italy, Spain, and the Benelux region.
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