Five Northampton industrial units bought for £10.4m by investment fund with Middle East links

Five industrial sites in Northampton totalling 130,619 sq ft have been bought for £10.4 million by a investment fund with links to the Middle East.

The £100 million fund has purchased two multi-let and three single-let units at Brackmills, Moulton Park and Round Spinney industrial estates.

The 'assets' range between 4,953 and 64,832 sq ft in size and are let to 11 tenants including Click Distribution, Normal Global Logistics, Millbrook Healthcare andExela Technologies.

The fund is managed by property investment company JR Capital and industrial asset manager Chancerygate and was sold by Edmond de Rothschild Real Estate Investment Management on behalf of Highgate Unit Trust.

JR Capital founder John Collier-Wright said: “We have deployed cautiously over the past nine months since launching the fund and are very well placed to take advantage of current market conditions.

"The industrial and logistics sector has been one of the best performing asset classes during the lockdown and despite the short-term uncertainty, we are bullish on the outlook.”

London-based JR Capital is an FCA-registered business with a focus on real estate that provides a platform for its Middle East-based private and institutional clients to co-invest into both the UK and European real estate markets.

Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide with offices in London, Warrington, Birmingham and Milton Keynes.

Its asset management team currently manages £220m of assets across 4.9 million sq ft of commercial space in more than 350 units.

The £10.4 million acquisition is the second by the fund in Northamptonshire following its purchase of the 127,550 sq ft, Wollaston Industrial Park in Wellingborough for £7.24 million in September last year.

Chancerygate head of asset management, Rory Finnan, added: “Our fund’s latest investment marks a significant expansion of our portfolio and highlights the resilience of the industrial sector.

"The growth of online retail, particularly amid the coronavirus lockdown, has boost demand for varying types of warehousing and industrial units.

“These latest acquisitions further strengthen our presence in Northamptonshire after the fund’s acquisition in Wellingborough.

"The fact that every unit is occupied signifies the strength of demand in what is one of the most sought-after locations in the country.”