Investcorp sells 10 UK industrial & logistics assets for $145.32mn

By Amirtha P S, Desk Reporter
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Bahrain-based asset manager, Investcorp has completed the sale of ten UK-based industrial and logistics assets worth $145.32 million to Kennedy Wilson, Realty Income and Investra Capital, in three separate deals.

The global alternative investment firm said that the first sale to Kennedy Wilson comprised a portfolio of eight mid-box industrial and logistics warehouses located in the established distribution markets of Doncaster, Leeds, Bilston, Glasgow and Motherwell, totaling 588,997 square feet (sq ft).

The second sale was to Realty Income, which comprised of a modern detached industrial unit located in Hull, totaling 270,388 sq ft. The third deal was to Investra Capital comprising of a collection of manufacturing and distribution units located in Tamworth, totaling 201,309 sq ft.

Khulood Ebrahim
Khulood Ebrahim
Real Estate Product Specialist

“We are pleased to have successfully exited these assets in the UK. The industrial and logistics real estate assets are essential for driving eCommerce and supporting supply chains, and we remain focused on investing in these sectors. We will continue to leverage our deep market expertise and history of successfully investing in real estate to identify attractive opportunities that align with our criteria and have the potential to create value for our clients.”

Mr. Neil Hasson, Managing Director, Head of Investcorp European Real Estate, said, “We remain confident about the opportunity we see in the UK industrial and logistics sector, and we continue to see demand in that space both from occupiers and buyers.”

Investcorp acquired all ten assets during the second half of 2017 for a combined price of $92.5 million and successfully implemented its asset management strategy, involving significant lease extensions and improvements in revenue across the assets. The firm launched a full marketing process last year September, resulting in a successful sale to three separate buyers in December.

Since launching its European real estate business in 2017, Investcorp has invested approximately $1.11 billion into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium.

Related: Bahrain’s Ibdar Capital exits from US residential property for $103mn