InfraRed Capital Partners, acting on behalf of InfraRed Active Real Estate Fund IV, has acquired the Triumph Business Park in Speke, Liverpool, a c.1m ft² industrial estate totalling c.65 acres. The park comprises an existing 825,000ft² offering a range of unit sizes, c.15 acres of open storage land and a c.10 acre development site. InfraRed intend to implement a value-add strategy, driving increased employment and inward investment in the area by developing a further 10 acres+ on the site. Additional asset management initiatives include letting vacant units following reconfiguration and refurbishment, renewing and re-gearing leases, implementing rent reviews and re-branding. The investment volume amounts to c.€34.6m (£30m).
James Cooper, Director, Real Estate and Head of UK & Ireland commented: “We are delighted to have completed this transaction and look forward to implementing numerous initiatives on site. This includes the development of a new multi-let format on surplus land, maintaining sustainable specification. The estate is only 7 miles from Liverpool city centre, benefitting from infrastructure improvements, increased urbanisation and strong tenant demand from biotechnical, pharmaceutical and last mile logistics operators. InfraRed has a 25-year track record in this sector having acquired, developed and managed over c.17mft² of industrial assets and we continue to seek additional industrial opportunities throughout the UK. “
Andreas Katsaros, Director, Real Estate and Head of Strategy commented: “This marks our 10th acquisition in our Fund IV adding to its existing industrial holdings in the UK and complementing the Fund’s current office and residential assets in Germany, France and Ireland. We continue to expand our programme of value-add investing in sectors and locations propelled by technological, demographic and infrastructure changes. The Triumph Business Park, adjacent to Liverpool’s John Lennon airport fulfils all the above criteria.”
