BCCIM has acquired Airfield Industrial Estate in Christchurch, Dorset, for £4.5m in a deal reflecting a net initial yield of 4.8%.
The industrial estate comprises 29,000 sq ft of space across six units. BCCIM intends to upgrade the sustainability credentials of the estate and rebrand it.
The acquisition is the seventh completed by BCCIM, a joint venture between Barwood Capital and Caisson iO, on behalf of the Urban Industrial Income LP (UII), which launched in 2021.
James Burgess, director, investment management at Caisson iO, said: ”We are delighted to secure another high-quality asset for UII. Christchurch is an excellent industrial location on the south coast, benefiting from strong transport links and proximity to Bournemouth and Poole. With a sound tenant profile and a robust local occupational market, we look forward to delivering our business plan swiftly.”
Jonathon Ellerington, investment director at Barwood, added: “The acquisition of Airfield Industrial Estate is an excellent addition to UII, aligning well with our overall fund strategy as we continue to expand the portfolio. We remain committed to the sector and seek further opportunities owing to the favourable sector specific market dynamics.”
LSH and Penningtons Manches Cooper advised BCCIM and JLL and Cripps advised the private seller.
