Christopher Turner, executive director at Pacific Industrial & Logistics REIT plc (LON:PILR), a company focused on investing in single-let UK-based industrial and logistics properties, says he sees e-commerce as a “driving force in the industrial logistics sector”.
E-commerce has “had a huge impact on demand, take-up over the last year by the principle e-commerce operators has almost completely cleared out available stock in the markets,” he adds.
The company is backed by property investment veteran Sir John Beckwith, and headed by heavyweight Richard Moffitt,
The management team will not receive remuneration until the firm is returning a minimum yield of 6.5% to investors, but Turner says that, “with the current demand that we are experiencing, and acquiring properties that offer a yield profile of seven and a quarter to eight and a half per cent, we anticipate that we should be quite quickly getting into double digit yields.”