6 Oct 2021
Investcorp, a leading global provider and manager of alternative investment products, announced that it has successfully completed the acquisition of an industrial asset in Scotland and an industrial asset in the West Midlands for a combined purchase price of £15.5 million. The acquisitions follow on from a multi-let industrial estate in the North West of England, which Investcorp acquired in early September and a portfolio of industrial assets it acquired from Custodian REIT in late September.
Strategically located in close proximity to key transport connections, Drum Mains Park is a 51,000 square foot industrial and logistics warehouse located in Cumbernauld, Scotland, which is ten minutes outside of Glasgow. The property was purchased for £4.5 million.
The asset acquired in the West Midlands is a 109,000 square foot manufacturing / distribution warehouse situated on Burntwood Business Park, an established location in Cannock. The property was purchased for £11.0 million.
Today’s announcement marks Investcorp’s 14th and 15th acquisitions in the UK Industrial and logistics market, comprising 53 properties with a combined area of approximately 4.6 million square feet. Investcorp has now deployed £315 million into this sector over the past four years.
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 acquisitions, Neil Hasson, Managing Director – Head of Investcorp European Real Estate, said: “We are extremely pleased to announce these latest acquisitions, further expanding our robust portfolio of high-value real estate assets across the European market. We believe the UK industrial sector is primed to become one of the driving forces behind the UK’s real estate market, and our portfolio is well-positioned to benefit from this flourishing market. We remain focused on working through an attractive pipeline of investment opportunities.”