European private equity real estate platform DFI has acquired a £90m (€103.4m) UK multi-let industrial technology and manufacturing estate as seed asset for a newly created investment platform.
The firm has acquired Catalyst Bicester estate in Oxfordshire for the newly launched Techbox platform, which seeks to invest £500m.
Techbox aims to invest in the UK’s industrial technology subsector, which bridges the gap between logistics, technology and life sciences.
Catalyst Bicester, developed by Albion Land, is a newly built industrial estate. It currently offers 181,000sqft across Phases 1 and 2, which were completed in 2022 and 2024. A final Phase 3 is now under construction and scheduled for delivery in mid-2026, adding another 110,000sqft across five units.
DFI said it is assessing a pipeline of additional opportunities across key UK innovation clusters, and is also considering similar markets in Europe, with the goal of scaling the Techbox platform through targeted acquisitions and development.
Paul Nearchou, partner at DFI, said: “Building on our deep knowledge of the industrial and logistics space as well as our track record of aggregating portfolios in growth subsectors, this acquisition is the first step in building a new platform within a growing asset class, that is a critical growth driver of the UK’s innovation economy.
“Techbox taps into the considerable unmet demand from leading innovation and technology companies for best-in-class, bespoke space from which to grow their operations. Our first acquisition, Catalyst Bicester, is a high quality, sustainable asset with a tenant roster of exciting businesses already in place.”
HSBC UK provided the debt financing on the asset.
Gavin Neilan, co-founding partner at DFI, said: “At DFI we continue to execute our thematic investment strategy to build scalable platforms in niche or emerging subsectors. Our multi-disciplinary team’s understanding of market-specific fundamentals and broader macroeconomic trends enables us to create institutional-grade portfolios that help address unmet demand for quality space.
“We believe that Techbox presents an exciting opportunity to create value for our investors as we have done with our previous platform strategies through careful asset selection and active management, ahead of a successful exit once a business plan is complete.”
Simon Parsons, director at Albion Land, said: “The sale to DFI’s Techbox platform marks a new chapter for Catalyst which is now established as one of the leading technology parks in Oxfordshire and enables us to proceed with the third phase of development in collaboration with a specialist and like-minded investment platform.
“We expect considerable occupier interest from across the technology sector and look forward to the expansion of Catalyst.”
Jason Briggs, senior relationship director at HSBC UK, said: “We are delighted to support DFI with its latest industrial acquisition.
“The facility marks a milestone in our collaboration with a key client as DFI expands its footprint across the industrial real estate sector.”
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