M&G Real Estate is to forward-fund the £81m construction of Euro Car Parts’ megashed in the Golden Triangle.

MG Real Estate

The 778,000 sq ft distribution warehouse has been bought from IM Properties at a yield of 5.14%.

IM Properties agreed one of the biggest industrial prelets of 2014 with Euro Car Parts at the 35-acre site.

On completion of the building, the car part distributor will sign a 20-year lease at an annual rent of £4.3m with five yearly RPI linked rent reviews.

Savills acted for M&G Real Estate and CBRE advised IM Properties.