Chancerygate has acquired a nationwide portfolio of 17 multi-let industrial (MLI) assets from Legal & General Investment Management.
Known as the Gigha Portfolio, the portfolio comprises 626,000ft² of accommodation across 78 units, with around 90% of the space across the portfolio currently occupied.
The newly-acquired assets are located throughout the UK, with sites in Hounslow, Park Royal, Welwyn Garden City, Northampton, Tonbridge and Totton.
This latest investment deal follows Chancerygate’s acquisition of the 685,000ft² Questor Industrial Estate in Dartford for £145 million earlier this year.
The company also acquired Birch Business Park in Heywood, Greater Manchester and Spa Trade Park in Tunbridge Wells, Kent, totalling 487,000ft² for in excess of £75m.
FREE: Subscribe to Logistics Manager’s weekly property newsletter!
Chancerygate’s head of investment management, Simon Cowley, said: “MLI continues to be recognised as an asset class providing the potential for a diversified income stream with significant opportunities to add value, through capture of inherent reversion, lease up of vacant space and refurbishment to improve ESG credentials.
“Acquiring the Gigha Portfolio represents a further step forward for the investment side of our business and significantly increases our assets under management.
“We continue to actively look for other investment opportunities as we prioritise capitalising on MLI’s growing prominence within UK commercial real estate.”
