InfraRed acquires 1m sqft industrial estate in Liverpool for value-add fund
InfraRed Capital Partners has acquired a 1m sqft industrial estate in the north-west of England for its latest European value-add real estate fund.
The manager’s InfraRed Active Real Estate Fund IV has bought the Triumph Business Park in Speke, Liverpool for £30m (€35m).
The park comprises an existing 825,000sqft offering a range of unit sizes, 15 acres of open storage land and a 10-acre development site.
The manager said it intends to implement a value-add strategy, driving increased employment and inward investment in the area by developing a further 10 acres on the site.
James Cooper, director, real estate and head of UK and Ireland said the estate is only 7 miles from Liverpool city centre, benefitting from infrastructure improvements, increased urbanisation and strong tenant demand from biotechnical, pharmaceutical and last-mile logistics operators.
“InfraRed has a 25-year track record in this sector having acquired, developed and managed over 17m sqft of industrial assets and we continue to seek additional industrial opportunities throughout the UK. “
Andreas Katsaros, director, real estate and head of strategy, said the latest deal is the tenth acquisition for Fund IV, which raised £522m a year ago.
The fund has an existing industrial portfolio in the UK as well as office and residential assets in Germany, France and Ireland.
“We continue to expand our programme of value-add investing in sectors and locations propelled by technological, demographic and infrastructure changes.
“The Triumph Business Park, adjacent to Liverpool’s John Lennon airport fulfils all the above criteria.”