JR Capital and Chancerygate鈥檚 UK multi-let industrial property fund has acquired two sites.
The fund has invested 拢6.2m (鈧�7m) to buy the Clyde Gateway Trade Park site in Glasgow and the Eagle Industrial Estate in Leeds.
The 27,409sqft Clyde Gateway Trade Park site, comprising four light industrial units, was acquired for 拢2.35m and the 55,700sqft site in Leeds, made up of seven light industrial units was acquired for 拢3.8m, the companies said.
The acquisitions bring the fund鈥檚 total investments to 拢50m comprising 650,000sqft of industrial space across 12 assets ranging from Glasgow to Northampton.
The companies said the has a further 拢50m to spend over the next 12 months and intends to raise further capital. It is targeting multi-let industrial investments across the UK in lot sizes of 拢3m to 拢15m.
JR Capital head of investments, Michael Ferris, said: 鈥淭he acquisitions in Glasgow and Leeds are excellent additions to our growing portfolio and help us increase the fund鈥檚 presence across in the UK.鈥�
Ferris said the Clyde Gateway Trade Park is the fund鈥檚 first acquisition in Scotland and鈥� enables us to enter an exciting and important market with strong underlying fundamentals鈥�.
Chancerygate asset manager, David Tyson, said: 鈥淭he fund鈥檚 investment in these two sites is indicative of the confidence we have in the industrial property market, where we are seeing growing demand for high-quality light industrial and warehousing space driven by the needs of a diverse range of businesses.
鈥淭hat trend is clearly visible at both Clyde Gateway Trade Park and Eagle Industrial Estate, which play home to a number of diverse, well-established businesses. Combined with the prime location of these sites, these fundamentals make both assets great additions to the fund鈥檚 portfolio.鈥�
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