CBRE Global Investment Partners (CBRE GIP) has committed a further £25 mln (€31.5 mln) to Roxhill Developments Group Limited (Roxhill), one of the UK's leading logistics developers. CBRE GIP originally invested in Roxhill in 2012 via a co-investment vehicle with Forum Partners. Forum Partners had provided seed capital to Roxhill alongside management and Abstract Securities in 2010. Roxhill is now capitalized with £105 mln (€132 mln) of equity and no debt.
CBRE GIP’s new investment will allow Roxhill to unlock the development potential of a land bank of over 1,850 net developable acres at 24 sites. These sites are strategic logistics locations in the Midlands and South East England and have received, or are in the process of receiving, planning permission to develop prime logistics facilities totaling over 33 million ft² (3 mln m²).
Roxhill has already completed several lettings and freehold sales to major 3PLs including Kuehne + Nagel, Dachser, DPD, DSV and Yearsley and retailers including Farmfoods, H&M, Dr Martens and Travis Perkins.
Commenting on the acquisition, Alex Bignell, UK Managing Director at CBRE GIP, said: “This investment demonstrates CBRE GIP’s ability to access investment opportunities with strong market fundamentals in partnership with leading specialist operators. The UK has a structural under-supply of large modern warehouses to serve growing e-commerce-driven demand. Roxhill has assembled a strategically located portfolio of sites and is uniquely well placed to capitalize on occupier demand for logistics facilities.”
Jason Dalby, Managing Director at Roxhill added: ”Roxhill is delighted to announce this additional £25 mln (€31.5 mln) of funding from CBRE GIP. This will allow Roxhill to take forward some of our major schemes which require more capital for land purchase and implementation of infrastructure.”
Source: CBRE Global Investors