Argo Real Estate has secured Blue Coast Capital as a cornerstone investor to establish a £500m (€599m) UK urban-logistics platform focused on brown-to-green developments.
Argo said the strategy which has “secured significant backing” from Blue Coast Capital, has made its first deal with the purchase of the Tuscam Trading Estate in Camberley, Surrey for around £40m.
The 183,000sqft estate will undergo a comprehensive refurbishment to modern sustainable standards while tenant businesses remain in operation, unlocking substantial rental reversion and capital uplift, Argo said.
The brown-to-green urban logistics platform, a second collaboration between Argo and Blue Coast Capital, will transform underutilised assets in major UK cities into premium sustainable properties. Prior to this, they partnered in an Argo-managed fund that established a last-mile logistics portfolio across London and the South East.
Crispin Gandy, CEO of Argo Real Estate, said: “We are seeing a compelling opportunity to aggregate assets with strong underlying fundamentals and unlock significant income and capital growth through our proactive and hands on asset management approach.
“Our goal is to create a best-in-class urban logistics platform with meaningful scale and we’re excited by the pipeline opportunities we’re already securing.”
Gavin Rabinowitz, founder of Argo Real Estate, said: “We are delighted to once again partner with Blue Coast Capital in the urban logistics sector, as we look to build on the prior successes our relationship has delivered over many years of working together.
“This latest collaboration reflects our shared vision in creating value through the aggregation and strategic transformation of real estate assets in sectors with structural tailwinds. We look forward to growing this new platform together.”
