Rankeilour Properties has concluded a £20m+ capital raise for its UK warehouse fund.
The company secured the money from high net worth individuals and family offices, providing circa £40m of post leverage firepower to invest in single and multi-let industrial and retail warehouse properties across Scotland and Northern England.
A first asset in Cumbernauld, has already been acquired off market for £5.45m, in a deal reflecting a net initial yield of 7.5%. Two further acquisitions are expected to close imminently. Following these three transactions, the fund will be approximately 30% invested.
Rankeilour is aiming to invest the remainder of the funds over the course of 2027. The company is targeting value-add warehouse opportunities in Scotland and Northern England with lot sizes of between £1m and £6m and stabilised yields of 7.0%+.
Neil Crombie, director of Rankeilour Properties, said: “The success of this capital raise demonstrates the depth of private investors’ appetite for high yielding warehouse assets. With interest rates rising and the investment market softening, we are well placed to deploy into attractive opportunities in supply-constrained markets, where occupier demand for well-located assets at attractive rents remains strong.”
