InfraRed Acquires North West Industrial Portfolio from Stretton Property Group for £42m

4 April 2019 Investments
InfraRed Capital Partners Limited (“InfraRed”), on behalf of InfraRed Active Real Estate Fund III, has acquired a portfolio of nine multi-let industrial estates from Stretton Property Group, a regional property company, for £42m. The portfolio comprises industrial properties located throughout the North West of the UK with a combined gross internal area of around 1m sqft, let to over 20 tenants.

InfraRed has acquired the portfolio to implement a value-add strategy while generating a sustainable distribution yield. InfraRed intends to actively manage the assets, making a series of building improvements, renewing leases on expiry and letting vacant space across the portfolio.

James Cooper, Director at InfraRed Capital Partners commented:

“Our industrial team has a 20-year track-record of investing in this sector having acquired and managed over 14m sqft of assets. This acquisition complements our existing North West portfolio which we have acquired over the past 18 months for Active Fund III and which now totals 3.4m sqft of floor space. We believe the North West has strong prospects: the urban cluster of Manchester and Liverpool represents the second largest conurbation in the UK after London and a dynamic economic zone. We continue to seek industrial opportunities in the UK regions to further grow our existing portfolio.”

Dowley Turner Real Estate, Taylor Wessing and Peloton Properties acted for InfraRed. Stretton were represented by CBRE and Freeths.

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