JR Capital and Chancerygate industrial fund goes on £16m spree
JR Capital and Chancerygate’s £100m multi-let industrial property investment fund has acquired five assets for a combined value of more than £16m.
The deals mark the conclusion of the fund’s industrial acquisitions. Its portfolio now stands at 24 assets comprising 150 units totalling 1.05 million sq ft on sites ranging from Dundee to Exeter.
The final round of acquisitions includes estates located across the country in Mansfield, Dudley, Chester, Llandarcy and Nailsea.
Launched in June 2019, the fund has targeted multi-let industrial investments across the UK in lot sizes of £3m to £15m.
The largest purchases are Mansfield South Trade Park in Mansfield, which comprises eight units and was bought from Dunmoore for £3.35m, and Sterling Park in Merry Hill, Dudley, which also has eight units and was purchased from a client of Ellandi for £3.5m.
JR Capital chief executive John Collier-Wright said: “We are very pleased to have successfully deployed close to £100m over the past two years, and in doing so have aggregated a high-quality and diverse portfolio.
“The fund’s assets have performed exceptionally well, despite challenging global economic conditions, which is testament to the strength of the UK multi-let industrial sector, our stock selection and the management team.
“The sector remains undersupplied, with record levels of occupational demand, and we are bullish on the long-term outlook. We have plans to raise additional capital from our investors in the next year and look forward to growing our partnership with Chancerygate.”
Richard Bains, Chancerygate managing director, said: “We are delighted to have concluded the assembly of the portfolio with this flurry of transactions. The portfolio now comprises a balanced and diversified spread of assets, which will provide strong income returns to our investors.
“Our asset management team have already significantly increased rental income across the portfolio in line with the aims of the fund.”
Chancerygate and JR Capital were advised by BNP Paribas at Nailsea, Greenberry Advisors at Chester, Mitch Prop at Merry Hill and Knight Frank at Llandarcy.
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