Harleyford Capital has completed the first acquisitions for its new £100m Harleyford Logistics Partnership II (HLP II) strategy.
The off-market acquisition of assets in Manchester, Glasgow and Sheffield, which between them provide 150,000 sq ft of logistics space, represent £25m of committed capital and mark the initial phase of the £100m strategy focused on income-producing urban logistics assets with high reversionary potential.
HLP II is targeting £5m to £20m lot sizes and 20,000 sq ft to 70,000 sq ft units, with an emphasis on post-2005 construction in major UK metropolitan areas.
Harleyford intends to enhance energy performance across the portfolio and is targeting EPC A ratings through focused capital expenditure programmes.
Dean Harrison, managing director, investments at Harleyford Capital, said: “Following the market correction, supply-and-demand dynamics continue to support rental growth outperformance for well-located, modern urban logistics assets, particularly where development viability remains constrained. Higher and sustained interest rates are also creating compelling buying opportunities in prime locations.”
