M7 completes industrial deals for latest value-add fund

M7 Real Estate has bought four industrial and office properties for a combined £16.5m on behalf of the latest fund in its regional UK value-add series. The properties were acquired in four separate deals for the M7 Real Estate Investment Partners IX fund. These latest acquisitions measure a combined 240,000 sq ft. This includes a circa 73,000 sq ft distribution warehouse in Bradford let to transport and logistics firm Transmec Group, and Christchurch House, a 27,000 sq ft office building in West Bromwich town centre let to the government. It also acquired Trinity Park, a circa 101,000 sq ft mixed-use industrial and office scheme in Wakefield leased to Wakefield Council and 2 Sisters Food Group; and a distribution warehouse at Roundwood Industrial Estate in Ossett, let to British American Shipping. The fund’s first close in February this year raised £23.9m of equity from UK, European and Asia-based family offices and local UK councils. Its portfolio now totals 452,000 sq ft across the three sectors: 33% in well-located regional offices, 43% in industrial and logistics and 24% in long-let retail warehousing. David Ebbrell, chief executive of M7 Real Estate, said: “These recent acquisitions which have all been completed during the pandemic are attractive additions to M7 REIP IX’s portfolio, providing a mix of secure income underpinned by strong covenants in locations where we expect occupier demand to remain robust. “With our considerable in-house expertise, we have already identified a number of asset management initiatives across the portfolio including refurbishment and leasing activity in order to drive returns for our investors.”   To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette