Melcombe Partners has invested an undisclosed sum to buy two Greater London urban logistics properties on behalf of a recently set up joint venture.
The European real estate investment manager said the assets which total 200,000sqft are located in West London and West Thurrock. The West London asset is let while the West Thurrock asset is currently being marketed.
Peter Freeman, head of UK at Melcombe, said: “These two acquisitions reflects our focus on acquiring strategically located assets with strong logistics fundamentals.
“These are our first acquisitions in the Greater London market and we look forward to adding to our portfolio in the coming months.”
In November last year, Singapore sovereign wealth fund GIC teamed up with Melcombe to buy and develop last-mile distribution centres and urban logistics assets in cities across the UK, France, Germany, Spain and the Netherlands.
The companies said at the time that Melcombe will be in charge of sourcing, operating and managing the assets on behalf of the newly formed venture.
To read the digital edition of the latest IPE Real Assets magazine click here.
