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Urban Industrial Income Fund makes two key acquisitions


11th November 2021

BCCIM, a joint venture between Barwood Capital Ltd (‘Barwood’) and Caisson Investment Management (‘Caisson’), have purchased two further urban industrial estates in their Urban Industrial Income LP (‘UII’) five months on from the first close. This takes UII’s AUM to over £26m across three multi-let industrial (‘MLI’) assets in the UK regions with a strong pipeline to grow further.

Graylaw Trading Estate, Aintree, and Waleswood Industrial Estate, Sheffield, mark the second and third acquisitions for UII. The LP was launched in May 2021 to invest in multi-let and urban industrial assets in regional locations across the UK.

Graylaw Trading Estate, purchased from a UK institution for £3.35 million, is a 74,748 sq ft scheme comprising 13 units and is currently let to five tenants including Royal Mail and the NHS.

Waleswood Industrial Estate is a 112,936 sq ft site, purchased from CBRE Investment Management for £9.95 million.  A 22-unit estate currently occupied by 13 tenants.

Danielle Sheppard, Senior Investment Director at Barwood, said:

“BCCIM offers investors in UII a best-in-class manager, in a sector where it has exceptionally strong experience and expertise. These latest acquisitions prove the ability of BCCIM to acquire undermanaged assets with good growth potential across the regions. Waleswood and Graylaw are an excellent addition to Rushock Trading Estate, Droitwich.”

James Ward, Asset Management Partner at Caisson, added:

“With low supply of industrial space and rising demand, this industrial sub-sector has remained resilient throughout the Covid-19 pandemic. Both acquisitions are examples of where we can take advantage of the smaller end of the market, where larger pools of capital have difficulty investing and managing, in the absence of an expert manager in the sector.”

UII was represented by B8RE in the purchase of Graylaw Trading Estate, with Collingwood Rigby acting for the UK institution.  Cushman and Wakefield acted for UII in the Waleswood Industrial Estate acquisition, with Knight Frank representing CBRE Investment Management.

 

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