Indurent has acquired a 750,000 sq ft, 76-unit urban logistics portfolio from Chancerygate and Bridges Fund Management for an undisclosed price.
The portfolio comprises the forward acquisitions of the 271,000 sq ft Torque scheme in Erdington, Birmingham, and the 223,000 sq ft T45 development in Leeds, along with the purchase of the 255,000 sq ft Holbrook Park scheme in Coventry (pictured).
James Cooper, head of investment transactions at Indurent, said: “This acquisition reflects our continued focus on securing high quality, well-connected assets that support our customers’ growth. The sector’s long-term fundamentals remain strong, and we’re committed to expanding our portfolio through strategic acquisitions and development, supporting regional investment, job creation, and long-term economic growth.”
Matthew Connor, senior development director at Chancerygate, added: “This deal is an endorsement of our expertise in developing Grade A urban logistics accommodation in strategic areas with high occupier demand. Our products’ sustainability credentials, flexible sizing and proximity to key infrastructure and transport hubs continue to prove attractive to both investors and occupiers, evidenced by both this transaction and the occupational success at Holbrook.”
Henry Pepper, partner, property at Bridges, said “This portfolio sale reflects the growing demand for high-quality sustainable logistics space from occupiers looking to reduce costs and improve their environmental performance – which makes these extremely attractive assets for investors seeking future-proofed, long-term returns. We are delighted to complete this latest sale from the portfolio of assets we have developed with Chancerygate, which continues the strong run of exits that Bridges has been able to achieve this year.”
DTRE advised on the transaction.
