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Marchmont and Pictet Alternative Advisors Purchase Virgin’s Training Facility in Crawley

Marchmont Purchases Virgin’s Training Facility in Crawley
27 August 2020 | Updated 01 September 2020
 

Virgin Atlantic’s Training Centre in Crawley has been sold to Marchmont Investment Management and Pictet Alternative Advisors​ for c.£30 million.

“The Base” is the facility where all cabin crew are trained and is also home to engineering, cabin services, occupational health, facilities, uniforms and HR.

Marchmont Investment Management in conjunction with Pictet Alternative Advisors has purchased the freehold interest subject to a short-term leaseback.

The property comprises Virgin’s training facility extending to c.220,000 sq ft on a site of 10.39 acres. The site will be redeveloped to provide up to 225,000 sq ft of logistics space.

 

Crawley a “Key South East Market”

 

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. Marchmont has been very active in the urban industrial space to date and we view this programmatic partnership with Pictet as the next exciting step in the evolution of our business.  Pictet shares our conviction of the fundamentals of this strategy and to partner with an investor of this pedigree is a great partnership.”

Marchmont has also recently acquired four single and multi-let estates around Greater London and the South East.

At Crawley, Marchmont was represented by Cushman & Wakefield; Virgin Atlantic was represented by SHW.

Picture: A photograph of the wing of an aircraft in flight

Article written by Ella Tansley | Published 27 August 2020

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