Real estate specialist Barwood Capital has purchased eight multi-let industrial estates through Caisson, totalling more than £38m, and a further estate is under offer.
The estates are located in Nottingham, Bromborough, Corby, Dumbarton, Warrington, Livingston and Birmingham, and are for Barwood’s 2017 Regional Property Fund.
The acquisition follows the announcement in October 2018 that Barwood Capital had committed up to £15m of equity for Caisson to aggregate a portfolio of up to £40m of UK multi-industrial estates to gain exposure to the sector.
Danielle Sheppard, senior investment director at Barwood Capital said: “Caisson had a clear brief to target those quality urban or edge-of-urban locations where there is clear potential to reposition and improve the estates through active asset management.
”The UK MLI sector remains an attractive sub-segment of the wider industrial market, and there is an increasing demand from a broadening tenant base alongside constrained supply, meaning that the sector offers compelling capital growth prospects.”
Hugh Elrington, managing director at Barwood Capital said: “We identified the MLI sector as a key market to exploit in 2018. With these recent acquisitions we are well positioned to meet our initial investment objectives.
”We firmly believe that this sector is set for further growth given the structural imbalance between demand and supply alongside a broadening tenant base.”
By Michelle Mooney