Global alternative investment firm Investcorp has added a 333,000sqft logistics property in Scotland to its UK industrial real estate portfolio.
Investcorp said it paid £23.2m (€26.4m) to buy the property on Eurocentral from a UK institution. The property, let to GXO Logistics, comprises 304,000sqft of warehouse space, 22,000sqft of office and an external canopy of 7,000sqft.
Neil Hasson, the head of Investcorp European real estate, said: “This latest acquisition of a prime logistics facility aligns with our strategy to focus on UK logistics assets. High occupier demand and constrained supply are creating attractive investment opportunities. We continue to monitor opportunities in the UK logistics and industrial sector, as well as actively manage our portfolio for the benefit of our investors.”
Tom Martin, Investcorp European real estate, said the logistics facility is a key asset that is well connected to important transport infrastructure and is in a market with strong occupational fundamentals.
“We believe this will provide resilient and inflation-protected income as well as opportunities for capital upside.”
Investcorp launched its European real estate business in 2017 and has since acquired approximately €1.3bn of real estate assets across the UK and Europe.
Investcorp’s European portfolio now consists of 10 office properties across Germany, the Netherlands, Belgium, Italy and the UK, as well as 36 UK industrial assets and more than 550 student beds in the UK.
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