Oxenwood Real Estate has acquired four last-mile logistics properties in the UK for £51m (€60m).
The European real estate investor said the assets in London, Redhill and Manchester have been acquired in four separate transactions from a mix of private and institutional investors by Oxenwood Catalina, Oxenwood’s joint venture with Catalina Holdings.
In London, Oxenwood has acquired a 38,929sqft facility in Barking, and another in west London for a total of £27.1m. In Redhill, Oxenwood has acquired a 108,193sqft facility on Bonehurst Road for £17.25m, and in Manchester, a 90,740sqft office, laboratory and warehouse facility on Beacon Road in Trafford Park was acquired for £7m.
Stewart Little, co-founder of Oxenwood, said: “Urban locations continue to be a focus for the business, and these four additions represent excellent value-add opportunities in their markets. With lease structures that allow us to access the strong rental growth in their locations, the assets will be strong contributors to the portfolio.
“Playing to our strategy around power, the buildings have exceptional supplies for their size and location, which will future proof their appeal to occupiers and potentially drive further returns.”
The acquisitions increase Oxenwood’s investment in logistics to £183m, since the company announced in March the repositioning of the business with a £200m increase in capital from Catalina Holdings, to take advantage of opportunities arising in the UK and European logistics markets.