Monday, September 28, 2020

Portfolio of Northamptonshire industrial properties snapped up in £10.4m deal

A portfolio of five industrial assets in Northamptonshire have been acquired by a £100m multi-let investment fund for a total of £10.4m.

Managed by property investment company JR Capital and industrial asset manager Chancerygate, the fund now owns five properties totalling 130,619 sq ft within five miles of Northampton town centre. The properties are located at Brackmills, Moulton Park and Round Spinney industrial estates.

The portfolio comprises two multi-let estates and three single-let units and are fully let to 11 tenants. The properties were sold by Edmond de Rothschild Real Estate Investment Management (REIM) on behalf of Highgate Unit Trust.

The five assets within the portfolio range between 4,953 sq ft and 64,832 sq ft in size and are located within the heart of the ‘Golden Triangle’.

Tenants across the five industrial properties include distributor of toys and collectables, Click Distribution; freight specialists, Normal Global Logistics; healthcare provider, Millbrook Healthcare; and business process automation specialist, Exela Technologies.

This marks the second acquisition by the JR Capital and Chancerygate fund in Northamptonshire following its purchase of the 127,550 sq ft Wollaston Industrial Park for £7.24m in September last year.

JR Capital Managing Director, John Collier-Wright, said: “We have deployed cautiously over the past nine months since launching the fund and are very well placed to take advantage of current market conditions. The industrial and logistics sector has been one of the best performing asset classes during the lockdown and despite the short-term uncertainty, we are bullish on the outlook.”

The fund has a further £75m to spend over the next 12 months and intends to raise further capital. It is targeting multi-let industrial investments across the UK in lot sizes of £3m to £15m.

Chancerygate head of asset management, Rory Finnan, added: “Our fund’s latest investment marks a significant expansion of our portfolio and highlights the resilience of the industrial sector. The growth of online retail, particularly amid the Coronavirus lockdown, has boost demand for varying types of warehousing and industrial units.

“These latest acquisitions further strengthen our presence in Northamptonshire after the fund’s acquisition in Wellingborough. The fact that every unit is occupied signifies the strength of demand in what is one of the most sought-after locations in the country.”

Mark Millar, head of UK investment at Edmond de Rothschild REIM, continued: “This is a well-located spread of light industrial assets in Northampton, where we successfully implemented an asset management strategy which reduced the level of voids, increased rents and delivered longer lease lengths ahead of realisation.”

Gerald Eve acted on behalf of the Chancerygate and JR Capital, while legal advice was provided by real estate law firm, Maples Teesdale. Knight Frank acted for Edmond de Rothschild REIM.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

20 years in the making – Serena Humphrey launches ‘The F Word Academy’

One of the region’s most respected business figures, Serena Humphrey, has celebrated two decades in business and more than 30 years in the financial...

East Midlands Bricks Awards 2020 goes fully digital

East Midlands Business Link is pleased to announce that despite Governmental guidelines making in-person conference and events of the size of the Bricks Awards...

University to create Smart Wireless Innovation Facility as part of ‘smart campus’ project

Nottingham Trent University’s Clifton Campus will see the implementation of new 5G connectivity and infrastructure as part of a new ‘smart campus’ project. As well...

Time Out: Ashley Oates, Head of Sustainability at Ward

The weekend has crept up on us once again. That means it’s time for some quickfire questions with another business leader from our region. For...

Commissions calls for £4.2bn annual skills investment to combat COVID, reboot economy

The Future-Ready Skills Commission is calling for £4.2 billion of skills investment a year to reboot the economy and help the UK recover from...

Related news

Haulage, storage and distribution firm secures 55,000 sq ft unit at St. Modwen Park Lincoln

St. Modwen will have another new occupier at St. Modwen Park Lincoln after haulage, storage and distribution firm George H Kime & Co Ltd...

20 years in the making – Serena Humphrey launches ‘The F Word Academy’

One of the region’s most respected business figures, Serena Humphrey, has celebrated two decades in business and more than 30 years in the financial...

East Midlands Bricks Awards 2020 goes fully digital

East Midlands Business Link is pleased to announce that despite Governmental guidelines making in-person conference and events of the size of the Bricks Awards...

University to create Smart Wireless Innovation Facility as part of ‘smart campus’ project

Nottingham Trent University’s Clifton Campus will see the implementation of new 5G connectivity and infrastructure as part of a new ‘smart campus’ project. As well...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close