JR Capital and Chancerygate fund buys trio of industrial assets

JR Capital and Chancerygate fund buys trio of industrial assets

Posted by JR-Capital in News

JR Capital and Chancerygate’s multi-let urban logistics investment fund has acquired a portfolio of three South East industrial assets for £14m from GMS Estates.


The sites, in Luton, Alton and Farnham have 28 units totalling 90,400 sq ft and ranging from 19,200 sq ft to 52,500 sq ft.


The portfolio’s tenants include Brewers, City Plumbing, Co-operative Food, GreenThumb and Screwfix.


The £150m fund’s purchase brings its total investments so far to £50m, comprising 94 units and 537,000 sq ft of space.


JR Capital chief executive John Collier-Wright said: “This portfolio will provide the fund with well diversified income and opportunities to add value in the short to medium term.


“We have been acquisitive over the past 18 months while there has been distress in the markets and other investors have been sitting on their hands.


“We expect the investment markets, specifically the multi-let industrial sector, to stabilise over the coming year and for yields to tighten when interest rates eventually start to come back down.”


The fund has a five-year life and is targeting urban logistics, industrial and warehousing investments across the UK in lot sizes of £10m to £20m.


Simon Cowley, head of investment and asset management at Chancerygate, added: “The acquisition of these three sites marks a significant, strategic expansion of our portfolio, giving us further exposure to the particularly resilient South East market.


“The extremely high occupancy of the portfolio signifies the strength of demand for this type of accommodation in the region.”


London-based JR Capital is a multi-family office business with a focus on UK and European real estate. Established in 2005 by Collier-Wright, the firm has concluded more than £2bn of transactions across all major property sectors.


Founded in 1995, Chancerygate is the UK’s largest urban logistics developer and asset manager and the only one operating nationwide. The company manages in excess of £385m of assets in over 480 units across more than 5m sq ft.


M1 Agency acted for JR Capital and Chancerygate, while Gerald Eve advised GMS Estates.



20 Mar 2024