Investcorp raises acquisition in UK to 15 with new asset for $76.4mn

By Arya M Nair, Intern Reporter
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Investcorp
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Investcorp, a Bahrain-based asset manager, has completed the purchase of ten UK industrial assets totaling about c. 660,000 square feet in four transactions for a total purchase price of $76.4 million.

Since launching its European real estate business in 2017, Investcorp has invested approximately $1.35 billion into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium.

The recent industrial acquisitions comprise three multi-let and seven single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, Christchurch, Aberdeen, Skelmersdale, Cumbernauld, and Cannock.

This raises the total number of transactions done by Investcorp in the UK industrial and logistics market to 15, comprising 53 properties with a combined area of approximately 4.6 million sq ft. Investcorp has now deployed $425 million into this segment over the past four years.

Khulood Ebrahim
Khulood Ebrahim
Real Estate Product Specialist
Investcorp

“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 the resulting demand for industrial space. With a diverse and well-leased base of tenants, we believe that this portfolio will continue to have the potential to generate solid cash flows for our investors.”

Investcorp also purchased Anchorage 1 & 2, an office building in Salford Quays, Manchester, in June of this year. Anchorage 1 & 2 are two multi-let Grade A office buildings with a total area of 149,168 square feet.

Mr. Tarek Al Mahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, commented, “We have built a market-leading and robust portfolio of high-value real estate assets across strategically located markets with strong fundamentals since we launched our European Real Estate strategy. We are pleased to further expand our real estate portfolio in the UK through this acquisition and we’ll continue to remain focused on working through an attractive pipeline of investment opportunities.”

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