ARGO Real Estate and Anchor Capital have acquired two urban industrial assets in Leatherhead and Dartford for £27.3m.
Leatherhead Trade Park and Orbital One Trading Estate in Dartford (pictured) are described as highly reversionary and benefit from a strong line up of national and local occupiers.
ARGO said it would look to add value through asset management initiatives, increasing income and enhancing capital value through its brown-to-green refurbishment strategy.
Mark Kelly, head of asset management at ARGO Real Estate, said: “We are delighted to be partnering with Anchor Capital on these two acquisitions which complement our existing South East focused portfolio. These two assets fit our strategy to buy well located properties with strong underlying fundamentals and offer both significant reversion and potential to reposition and upgrade environmental performance through refurbishment. We look forward to delivering on the asset management strategy and driving both income and capital value.”
Peter Armitage, CEO of Anchor Capital, added: “With rising demand, prices forecast to grow steadily and foreign investment increasing, we expect the UK property sector to record consistent annual growth over the next few years. Leatherhead and Dartford are closely linked to London and present superb investment opportunities due to their proximity to the city. We are excited to work with ARGO, a first-class team with an excellent track record, and we view the UK property sector as an extremely compelling investment opportunity.”
