Kennedy Wilson expects to close on almost £140m (€162m) worth of new UK industrial real estate deals in the very near-term, the global real estate investment company said.
Kennedy Wilson said it is on track to grow its UK industrial portfolio to £440m across 3.8m sqft, with deals completed or in solicitors’ hands adding £220m to its industrial assets under management in the last two quarters to March this year.
During the period, the manager acquired seven UK industrial and urban logistics assets through separate purchases. The assets are fully occupied and include a mix of core-plus and value-add properties with development potential.
Mike Pegler, the head of UK at Kennedy Wilson Europe, said: “We continue to witness exciting investment and asset management opportunities across both core-plus and value-add industrial and urban logistics properties, driven by strong demand-supply dynamics in the sector. Our specialist team has been central in growing our assets under management, buying high-quality properties with income and value growth potential.
“Having completed on about £80m in the last two quarters, we expect to close on almost £140m in the very near-term. By implementing our asset management programme, we aim for a strong stabilised yield. We look forward to further growing our portfolio in this sector.”
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