Investcorp announces sale of 10 UK Industrial and Logistics assets for a combined sale price of £108.4m

27 Jan 2022

Investcorp, a leading global alternative investment firm, today announced that it has completed the sale of 10 UK industrial and logistics assets to three different purchasers, Kennedy Wilson, Realty Income and Investra Capital, for a combined total of £108.4 million.

The first sale to Kennedy Wilson comprised a portfolio of eight mid box industrial and logistics warehouses located in the established distribution markets of Doncaster, Leeds, Bilston, Glasgow and Motherwell, totalling 588,997 sq. ft.

The second sale to Realty Income comprised a modern detached industrial unit located in Hull, totalling 270,388 sq. ft.

The third sale to Investra Capital comprised a collection of manufacturing and distribution units located in Tamworth, totalling 201,309 sq. ft.

Investcorp acquired all ten assets during H2 2017 for a combined price of c.£69m and successfully implemented its asset management strategy, involving significant lease extensions and improvements in revenue across the assets. The firm launched a full marketing process in September 2021, resulting in a successful sale to three separate buyers in December 2021.

Since launching its European real estate business in 2017, Investcorp has invested approximately €1 billion into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium.

Commenting on the disposals, Neil Hasson, Managing Director – Head of Investcorp European Real Estate, said: “We’re pleased to have achieved the successful exit of 10 assets in the UK which have shown strong performance since our acquisition in 2017. We remain confident about the opportunity we see in the UK industrial and logistics sector, and we continue to see demand in that space both from occupiers and buyers.

Our focus remains on identifying attractive assets with strong fundamentals in this thriving sector, which has seen substantial gains from the booming e-commerce market. This makes up part of our market-leading and robust portfolio of high-value real estate assets across strategically located markets in Europe, and we expect to see more opportunities in both the industrial sector and the UK market in the future.”