鈥檚 European last-mile logistics real estate partnership with asset manager URBZ Capital has acquired a 177,800sqft facility in the UK from
The Schroders Capital UK Real Estate Fund (SCREF) sold Unit 3C at Hams Hall Distribution Park in Birmingham for an undisclosed amount.
The asset is let to DHL Supply Chain until August 2026.
Schroders Capital said the distribution facility, developed in 2001, was acquired by SCREF in October 2021 as part of a 拢345m industrial swap deal with Segro.
Rob Cosslett, fund manager at Schroders Capital, said: 鈥淭he sale of Hams Hall is in line with SCREF鈥檚 strategy of divesting out of assets upon the completion of the business plan. The price achieved reflects the demand for well-located industrial assets in the UK as well as the asset management capabilities of the wider Schroders Capital team who managed to secure a strong uplift at the recent rent review with a leading occupier, making the asset more attractive to institutional buyers.
鈥淲e are always looking to create long sustainable income and deliver value to our investors. The returns delivered by the sale of Hams Hall will support committed capital expenditure initiatives across the existing portfolio to increase value and to further grow our allocation to multi-let industrial assets.鈥�
In December 2021, Ivanho茅 Cambridge announced plans to invest up to 鈧�400m in northern Europe to target last-mile logistics real estate.
At the time, the C$77bn (鈧�52bn) real estate subsidiary of the Caisse de d茅p么t et placement du Qu茅bec launched the new strategy and announced the acquisition of seven assets in the Netherlands worth 鈧�70m as part of the new partnership with URBZ.
In January, when the partnership acquired an asset in Germany, Ivanho茅 Cambridge said the venture had at the time acquired 21 properties, mainly in The Netherlands, Sweden and Germany.
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