31st August 2023

BCCIM acquires urban logistics unit in Glasgow

A 59,811 sq ft urban logistics unit in Blantyre, Glasgow, has been acquired by BCCIM (a joint venture between Barwood Capital and Caisson iO), on behalf of the Urban Industrial Income LP (‘UII’).

The space is let to Stanford Supply Chain Services, a third-party logistics firm with contracts to various organisations including the NHS, on a lease that runs until June 2030.

The unit sits within Whistleberry Park, Blantyre, where other occupiers include CAT, Babcock Rail, Dunns Food and Drinks, South Lanarkshire Council and Volvo. Located to the south of Glasgow, Blantyre is within easy reach of major road and rail connections.

UII was launched in May 2021 to invest in multi-let and urban industrial assets in regional locations across the UK. This latest purchase marks the fifth acquisition for the UII fund and takes its AUM to c.£40m across c.0.5 million sq ft of space.

“With its excellent transport links and well-established tenancy, this latest unit is an ideal fit for the UII portfolio and our strategy to acquire industrial assets in the UK regions with good rental growth potential.” said Jonathon Ellerington, Senior Investment Manager at Barwood Capital.

James Burgess, Acquisitions Manager at Caisson iO added “As demand for industrial properties continues to outstrip supply across the regions, our specialist industrial sector expertise makes us well placed to capture opportunities like this as we continue to grow the UII portfolio.”

Previous purchases by UII include Rushock Trading Estate, Droitwich; Graylaw Trading Estate, Aintree; Waleswood Industrial Estate, Sheffield and the M54 Space Centre in Telford.