Chancerygate has acquired a portfolio of 17 multi-let industrial (MLI) assets from Legal & General Investment Management for an undisclosed price.
The Gigha Portfolio comprises 626,000 sq ft of accommodation across 78 units located at sites in Hounslow, Park Royal, Welwyn Garden City, Northampton, Tonbridge and Totton. Around 90% of the space across the portfolio currently occupied.
Simon Cowley, head of investment at Chancerygate, said: “MLI continues to be recognised as an asset class providing the potential for a diversified income stream with significant opportunities to add value, through capture of inherent reversion, lease up of vacant space and refurbishment to improve ESG credentials.
“Acquiring the Gigha Portfolio represents a further step forward for the investment side of our business and significantly increases our assets under management. We continue to actively look for other investment opportunities as we prioritise capitalising on MLI’s growing prominence within UK commercial real estate.”
Knight Frank and Maples Teesdale acted on behalf of Chancerygate and JLL advised Legal & General Investment Management.
