M7 acquires UK retail warehouse portfolio for €78m

M7 acquires UK retail warehouse portfolio for €78m

M7 Real Estate has launched M7 Real Estate Investment Partners VIII fund to target retail warehouse assets in the UK. M7 has made an initial acquisition of nine UK retail warehouse assets for €78m (£69.9m) and is under offer to acquire a further asset for €8.5m (£7.6m). These acquisitions are in line with the fund’s strategy of investing in first and second generation retail warehouse assets in the UK.

 

The seed portfolio is 99% let to 30 tenants and comprises 630,896ft² across 31 units. The assets are located across the UK in Aintree, Blackpool, Castleford, Glasgow, Lowestoft, Nottingham, Pontefract, Wolverhampton, St Helens and Stoke-On-Trent. Tenants include The Range, B&M, Go Outdoors, Matalan and Iceland and the portfolio has a combined WALT of 9 years.

 

Will Hunting, Senior Acquisitions Manager at M7, commented: “These assets are a great starting point for the fund and provide a strong, defensive and diversified income return whilst also offering multiple value-add opportunities.”

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