A UK airport-focused industrial real estate fund managed by Abrdn has acquired a 拢22.4m (鈧�26m) asset from Lothbury Investment Management.
Airport Industrial Property Unit Trust (AIPUT) said it has acquired the multi-let Fleming Business Centre situated on a 4.5-acre site in Crawley.
The Fleming Business Centre has a gross internal area of 95,000sqft divided across seven units, one of which is currently vacant.
Nick Smith, AIPUT鈥檚 fund manager, said the latest acquisition is in line with the fund鈥檚 strategic goal to invest 拢150m in 鈥渘ew high-quality assets that will enhance returns and diversify our prime airport industrial portfolio, both geographically and across a wider range of occupiers鈥�.
The latest acquisition follows AIPUT鈥檚 recent acquisition of a 75-acre land development site in West Heathrow.
The Fleming Business Centre increases AIPUT鈥檚 industrial floorspace in the area by 80%, adding to and broadening the type of warehouse product it can offer to the recovering occupier market.
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