KKR’s European industrial and logistics platform has added a fully-let multi-let industrial estate asset in the UK to its portfolio through its joint venture with Mirastar.
DTZ Investors (DTZI), on behalf of the Plumbing Pension Fund, said it has sold Fairfield Trade Park in Kingston upon Thames in south-west London to the Mirastar/KKR partnership for £38m (€44.2m).
The 75,376sqft multi-let industrial and trade counter estate contains six units.
Sarah O’Brien, a director at DTZ Investors, said: “This disposal secures an excellent return for the Plumbing Pension Fund, having held the asset for nine years.
“Demand has soared for small-mid box, last mile distribution and trade counter units within the M25, with access to major trunk roads and affluent conurbations. We wish Mirastar every success with the estate.”
Leon Alvos, principal at Mirastar, said: “This asset presents an excellent opportunity to grow our in-fill strategy while improving quality and ESG credentials of existing stock in supply-constrained markets.”
Cushman & Wakefield acted for DTZ Investors and DTRE acted for Mirastar.
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