Investcorp adds to £300m UK sheds portfolio

Investcorp has bought Custodian’s portfolio of seven UK sheds for £32.6m. The industrial properties amount to a total of 360,000 sq ft with 12 tenants, across two multi-let and five single-let sites in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, Christchurch and Aberdeen. The deal is Investcorp’s 13th acquisition in the UK industrial and logistics market since it launched its European real estate business in 2017. It has built up a portfolio of 51 properties totalling 4.4m sq ft, spending around £300m in the sector over the past four years. European real estate managing director Neil Hasson said: “We believe that the UK industrial sector is set to become one of the strongest drivers of real estate, as Covid-19 has rapidly accelerated the shift to online retailing, and subsequently, the demand for industrial space. “We believe that our portfolio is well-positioned to benefit from this thriving market, and we look forward to working through an attractive pipeline of new investment opportunities in the UK.” Discover which agents have acted on the most space in the UK sheds market this year >> To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews