ALMCOR and joint venture partner Cerberus Capital Management have acquired a multi-let industrial and open storage site in Bridgwater for £20m.
The JV partners completed the off-market transaction of the 30-acre site for their European Industrial Outdoor Storage (EIOS) platform.
This deal builds on recent acquisitions completed by the platform including Leyland Business Park in Preston, a 48-acre multi-let industrial and open storage site, and Melton Commercial Park in Melton Mowbray, a 90-acre multi-let commercial estate.
Peter McCluskey, head of active value at ALMCOR, said: “The Bridgwater asset is another good example of our ambitions for the platform. The site has a strong tenant base, great transport links, and offers opportunities for a transformative development programme to repurpose the estate into an institutional IOS asset.
“We continue to develop our diverse, income-producing portfolio and are actively looking for more investment opportunities across the UK and Europe.”
