Northwood Investors has acquired two multi-let industrial estates in Stevenage and Banbury for circa £25m.
Motorway Industrial Estate in Stevenage comprises six units, totalling 60,754 sq ft, which are fully let to four tenants, and Network 11 Industrial Estate in Banbury (pictured), Oxfordshire, comprises six units, totalling 98,654 sq ft, which are fully let to five tenants.
Both estates have strong rental growth prospects and present the opportunity to add value via Northwood’s vertically integrated property and asset management platform, Northwood Urban Logistics.
Adam Creighton, director in national capital markets at JLL, which acted on behalf of Northwood Investors, said: “The multi-let industrial sector is currently the most in demand sector of all the UK property asset classes, driven by the compelling fundamentals, including diversified tenant risk, low availability rates and tangible rental growth. This potential for strong rental growth across both of these sites and the opportunity to add value through effective asset management strategies ensured these assets were key additions to Northwood Investors portfolio.”
Will Gubb, head of industrial capital markets at Knight Frank, which advised the seller, added: “The depth of interest received in these sales demonstrates the strong demand from investors to acquire well-located, multi-let industrial assets in core South East markets where there is continued rental growth forecast; this is a trend we expect to continue throughout 2026.”
