JR Capital and Chancerygate buys multi-let industrial in Birkenhead and Cardiff
JR Capital and Chancerygate’s industrial fund has bought two multi-let industrial estates in Birkenhead, Merseyside and in Cardiff.
Commerce Trade Park in Birkenhead is a 40,004 sq ft scheme which has been acquired from London & Cambridge Properties (LCP) for £3.45m.
Comprising 14 units, the trade park is on the A41, one mile south of the town centre.
Tenants on the scheme include Gobain Building Distribution, Toolstation and Benchmarx.
West Point Industrial Estate in Cardiff, a nine unit scheme comprising 33,977 sq ft, has also been acquired by the fund from Telereal Trillium for £3.45m.
The units are located within three miles of Cardiff city centre on Penarth Road. Current occupiers of the units include Clear Channel UK, CitySprint and PremSpec Electrical Products.
JR Capital’s head of investments Michael Ferris said: “The multi-let industrial sector has proven to be very resilient during the lockdowns and despite the wider economic uncertainty, we remain bullish on the outlook for this sector. We have deployed cautiously over the past 12 to 18 months since launching the fund and plan to be active next year.”
Chancerygate’s head of asset management Rory Finnan added: “Our two latest acquisitions significantly strengthen the fund, as well as enhancing its geographical profile.
“Both properties are situated in prominent locations where demand remains consistently strong. We’re confident that these two acquisitions will act as a catalyst for further growth of the fund.”
On the Commerce Park acquisition, B8 Real Estate acted on behalf of Chancerygate and JR Capital, while Mason Partners LLP acted for LCP.
Knight Frank acted on behalf of Chancerygate and JR Capital on the purchase of the Cardiff property, while Cooke & Arkwright acted for Telereal Trillium.
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