ARGO Real Estate has acquired The Merlin Centre at Cressex Business Park in High Wycombe for around £50m from a fund managed by Aberdeen Investments as part of its brown-to-green urban logistics strategy with Blue Coast Capital.
The 213,004 sq ft multi-let industrial estate comprises 12 light industrial, mid‑box and trade counter units ranging from approximately 8,300 sq ft to 40,200 sq ft.
James Brown, investment manager at ARGO Real Estate, said: “The Merlin Centre is a high quality urban industrial estate with strong fundamentals, excellent connectivity, and a well‑established occupier base. It offers a clear opportunity to drive income growth and long‑term value through active asset management and targeted capital investment.”
Crispin Gandy, CEO of ARGO Real Estate, added: “This acquisition further strengthens our growing urban logistics platform with Blue Coast Capital. The Merlin Centre exemplifies the type of assets we are targeting – dominant multi‑let estates in excellent locations where our hands-on brown‑to‑green strategy can transform accommodation to meet modern occupier requirements and deliver secure long-term risk adjusted returns.”
Peter Tomley, deputy fund manager at Aberdeen Investments, said: “Completion of the asset‑level business plan created a clear opportunity to divest and capture the value generated. This transaction marks a successful conclusion to our strategy for the asset and reflects continued demand for urban logistics real estate investments.”
ARGO and Blue Coast were advised by DTRE and Aberdeen was advised by ACRE Capital. ARGO was advised by Walker Morris.
