Singaporean investor buys Gloucester Business Park

Straits Real Estate has acquired Gloucester Business Park from Advanced Research Clusters (ARC) for £130m. Covering more than 276 acres, the business park has a mix of office, industrial and logistics properties supported by retail and commercial. It is well connected, with direct access from junction 11A along the M5. ARC’s assets at Gloucester Business Park included more than 521,000 sq ft of built space and 19 acres of future development land. The existing properties are 100% occupied, offering a weighted average unexpired lease term of 8.1 years to break and 8.7 years to expiry. Tenants include EDF Energy, Ecclesiastical Insurance, GE Aviation, and Lockheed Martin. The park was considered a non-core strategic asset by ARC following Brookfield’s acquisition of the Arlington portfolio in 2021, and was put up for sale in November last year. ARC was launched by Brookfield to stimulate innovation and accelerate commercial growth. The company is set for further growth across the UK and Europe, and is in active discussions on potential new sites. Desmond Tang, chief executive at Straits Real Estate, said: “The existing properties have predominant exposure to energy, insurance and health sector tenants, which are traditionally resilient businesses during inflationary periods. With the acquisition, we continue on track to grow assets under management to SGD3.5bn (£2.1bn) in the next few years.” Eastdil Secured and JLL advised ARC. ARA Europe acted for Straits. To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @gre_eve Image © ARC