Space Industrial has acquired a portfolio of 11 multi-let industrial (MLI) estates in the UK from Blackstone-owned Indurent.
Space Industrial, which is owned by Invesco Real Estate and Marchmont Investment Management, has invested an unspecified sum to acquire the 1m sqft portfolio with assets in prime regional markets including Peterborough, Southampton, Bradford, Manchester and Durham.
The portfolio has maintained an occupancy rate averaging 90-95% over the past five years.
Space Industrial, launched last month, targets severely under-rented MLI estates in well-located, last-mile locations close to key urban centres. Capital for the joint venture from Invesco was provided via Invesco Real Estate Europe Fund III.
Richard Chambers, managing director, fund management at Invesco Real Estate, said: “Space Industrial provides a fully vertically integrated platform with specialist execution across the investment lifecycle underpinned by strong market fundamentals and a resilient income profile.”
Since launching, Space Industrial has assembled a seed portfolio of seven assets, Chambers said, adding that the acquisition of a further 11 assets “demonstrates strong momentum in the growth of Space Industrial, with the team successfully curating a portfolio that complements our broader strategy”.
Tim Lumsdon, CEO of Marchmont IM, said: “Space industrial has rapidly grown into a high-performing platform delivering enhanced returns to investors by targetting select, strategically significant industrial assets.
“We’re delighted at what’s been achieved in less than 12 months, as highlighted by this latest deal, and focused on further enhancing the platform with additional properties in 2026.”
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