London-based real estate investment, development and asset management company Dominvs Group,has sold a primarily-industrial portfolio totalling 1.3 million ft2 (120,770 m2) to a private buyer for around £100 mln (€115 mln).
The deal, which is understood to be one of the largest mixed industrial real estate portfolio sales in the UK this year, represents a net initial yield of approximately 6.75%.
A spokesperson for the Ahluwalia family, owner of the Dominvs Group, commented: 'We remain acquisitive for development and investment opportunities across our three core sectors: hospitality, residential and commercial and are continuously looking for new sites with investment and development potential across the UK.'
The 18 properties, comprising 16 industrial assets and two office schemes, represent part of Dominvs’ existing commercial portfolio and include the 7,432 m2 Interchange Business Park in Newport Pagnell, Kayley Industrial Estate in Ashton-under-Lyme (14,957 m2), and the 39,854 m2 Walker Park in Blackburn.
Dominvs Group will retain several significant schemes within its existing commercial portfolio, across the UK, including sites in Tunbridge Wells, Wembley and Scotland. The group said that these would be in addition to its active development pipeline within the residential and hospitality sectors, including projects underway in London, Bath and Oxford.
Dominvs said it was also actively seeking to grow with strategic acquisitions in key UK cities.
Dominvs Group is a hotels, real estate and private equity business owned by the Ahluwalia family, comprising Dominvs Hospitalty, Dominvs Residential and Dominvs Commercial.
Fineman Ross and CBRE advised Dominvs Group on the sale.
