Leading UK property consultancy Allsop has successfully advised on the acquisition of a portfolio of industrial assets for €29.7 million (£25.4 million) on behalf of Intermediate Capital Group (ICG). The portfolio, formerly owned by National Timber Group, comprises five strategically positioned industrial assets across Sheffield, Newcastle, Oldbury, Hull, and Reading, all currently operating as timber merchant facilities.
Spanning approximately 55,740 m² (600,000 sq ft) across 15.4 hectares (38 acres), the portfolio benefits from a weighted average unexpired lease term (WAULT) of four years, with annual RPI-linked rent reviews, providing a robust inflation hedge. The assets are well located in densely populated urban areas, making them ideal for last-mile logistics and potential long-term redevelopment opportunities. Strong transport links further enhance their strategic appeal.
The acquisition aligns with ICG’s Value-Add Fund strategy, reinforcing its commitment to acquiring high-quality industrial assets with strong income potential and future repositioning prospects.
Allsop acted as the acquisition agent for Intermediate Capital Group, while Knight Frank represented the vendor.
Richard Gale, Partner at Allsop, commented: “The completion of this National Timber Group Portfolio acquisition highlights the strong investment appeal of well-located, last-mile industrial sites across the UK. This portfolio, with its strategic positioning in key urban locations, offers both immediate income security and long-term growth potential.”
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