Oxenwood Real Estate, in joint venture with a Canadian institutional investor, has completed the acquisition of a portfolio of prime UK logistics properties for £286m.
The Ultrabox portfolio comprises nine logistics assets, totalling 3.9m sq ft, located across the UK. The buildings are high-spec and in established locations. The passing rent from eight of the nine properties that are occupied is £16.4m a year, equating to an average of £4.67 per sq ft.
The vendor was a joint venture between Lone Star and Anglesea Capital. The bulk of the portfolio emerged from a deal put together in 2014 in which joint venture partners Anglesea and Lone Star bought four assets from Goodman, totalling 2.4m sq ft, in Wolverhampton, Swansea, Daventry and Gloucester.
