A portfolio of seven fully-let logistics buildings in Northampton has been acquired by a £150m (€170m) fund focused on multi-let urban logistics managed by JR Capital and Chancerygate.
Totaling 55,780sqft, the fully occupied buildings are located at Crow Lane Industrial Park in Northampton. The logistics portfolio was purchased from asset management company Columbia Threadneedle Investments for an undisclosed sum.
The seven units range from 3,225sqft to 28,665sqft and are let to companies including Wolseley UK, Midshires Electrical and Lighting, and Route 1 Fulfilment.
Chancerygate’s asset management director George Jerram said: “Our investment in Northampton is indicative of the confidence we have in the local market for urban logistics property. It is an excellent fit for our investment and asset management strategy.
“Demand for urban logistics accommodation remains strong both regionally and nationally. Crow Lane presented us with a great opportunity to enhance the geographical spread of our portfolio with an established asset in an excellent location.”
JR Capital and Chancerygate’s £150m fund has a five-year life and is targeting industrial, warehousing and urban logistics investments across the UK in lot sizes of £5m to £15m.
Michael Ferris, JR Capital’s head of investment, said: “We are pleased to have completed on the second acquisition for the new fund.
“We remain extremely bullish on the UK multi-let industrial sector due to the favourable macroeconomic fundamentals – and the recent adjustments to pricing have created a buying opportunity for us.”
He added: ”We expect to be active over the course of this year as we continue to scale our platform with Chancerygate to more than £200m.”
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