"Strong demand and a lack of supply across the UK have enabled us to deliver rental growth on behalf of our clients...."
A Morgan Stanley Real Estate Investing and C2 Capital joint venture, industrials.co.uk, has acquired more than 1.1m sq ft of multi‐let industrial estates in its first year.
Its latest round of acquisitions totalled more than 550,000 sq. ft across 12 estates, and brings the value of its portfolio up to around £90m and a running yield in excess of 8% a year. The most recent off‐market buys are located in Barnsley, Birmingham (pictured), Burton‐on‐Trent, Colchester, Dover, Gravesend, Milton Keynes, Nottingham and Thatcham, and have been acquired from a mix of UK institutions, private individuals and property companies. Industrials.co.uk intends to invest a further £100m in multi‐let estates in 2016 and is seeking to grow the portfolio to £500m over a three‐ to five‐year timeframe.
C2 Capital managing director Julian Carey said. :
“To the backdrop of challenging investment market conditions, we have continued to acquire attractively priced, multi‐let, industrial accommodation in highly accessible locations close to major conurbations.
Strong demand and a lack of supply across the UK have enabled us to deliver rental growth on behalf of our clients. We remain committed to investing further in the UK market, and continue to seek further opportunities to acquire well located, multi‐let, industrial estates in lot sizes of £2m‐plus.”