Investcorp has successfully completed the acquisition of a portfolio of seven UK industrial assets from Custodian REIT, for a purchase price of €37.7m (£32.6m). The Portfolio comprises two multi-let and five single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, Christchurch and Aberdeen. In total there are 12 tenants across a combined area of 360,000ft².
Commenting on the acquisition, Neil Hasson, Managing Director – Head of Investcorp European Real Estate, said: “Since the launch of our European real estate offering in 2017, we have built a market-leading and robust portfolio of high-value real estate assets across strategically located markets with strong fundamentals. We believe that the UK industrial sector is set to become one of the strongest drivers of real estate, as Covid-19 has rapidly accelerated the shift to online retailing, and subsequently, the demand for industrial space. The promising demand-side dynamics present within the sector are matched by an attractive occupier market which has seen vacancy rates hit record lows in recent years. We believe that our portfolio is well-positioned to benefit from this thriving market, and we look forward to working through an attractive pipeline of new investment opportunities in the UK.”
