Investcorp offloads 1m sq ft of industrial space

Investcorp has sold 10 UK industrial and logistics assets for £108.4m. The investment manager bought the warehouses in 2017 for £69m. Since then, it has agreed lease extensions and rental uplifts across the assets. A portfolio of eight mid-box warehouses in Doncaster, Leeds, Bilston, Glasgow and Motherwell, totalling 588,997 sq ft, was sold to real estate investor Kennedy Wilson. A 270,388 sq ft industrial unit in Hull was sold to investment trust Realty Income, while Investra Capital has bought a collection of manufacturing and distribution units in Tamworth, Staffordshire, totalling 201,309 sq ft. Neil Hasson, head of Investcorp European Real Estate, said: “Our focus remains on identifying attractive assets with strong fundamentals in this sector, which has seen gains from the booming e-commerce market. This makes up part of our portfolio of 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.” To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews Photo © EFAFLEX_Schnelllauftore/Pixabay