CBRE Global Investors has acquired a portfolio of three industrial estates on behalf of the CBRE UK Property PAIF.

CBRE Global Investors said the multi-let industrial portfolio comprises three newly-built industrial estates in Watford, West Thurrock and Oxford, developed in 2016/2017 by Kier Property.

No financial details were disclosed.

Covering a total of 126,900sqft, the assets contain 30 units designed specifically for trade and light industrial businesses and include a number of tenants.

Jamie Phillips, the portfolio manager at CBRE GI, said: “The acquisition is consistent with our continued emphasis on prime real estate in desirable locations. Having bought Logistics City in West Thurrock earlier in 2017, we have confidence in the quality of this product.

“All three properties have the benefit of favourable local market conditions, and have strong appeal to prospective tenants. Performance from within our industrial portfolio has been strong in recent times and this acquisition supports our strategy to gain increased exposure to this market.”