Strathclyde Pension Fund has sold a 12.36-acre industrial estate in South East England to urban logistics investor Chancerygate.
The Scottish local government pension scheme sold Canon Industrial Park in Wolverton, Milton Keynes, for an undisclosed sum.
The estate, which was managed by DTZ Investment Management on behalf of the pension fund, comprises 192,000sqft of multi-let industrial (MLI) and trade counter space across 29 units.
Simon Cowley, Chancerygate head of investment management, said: 鈥淐anon Industrial Park represents an attractive opportunity to acquire a well-established logistics and MLI estate, with a diverse income from a strong base of national and local occupiers. The strength of tenant demand across the scheme makes it particularly well suited to Chancerygate鈥檚 investment strategy, which is focused on securing leading regional MLI assets.
鈥淲e see a number of opportunities to enhance the asset and generate additional value, from capturing near-term rental growth to progressing refurbishment opportunities across the estate.鈥�
The transaction follows Dream Asset Management Corporation鈥檚 acquisition of Chancerygate last month, bringing the UK platform under the Toronto-headquartered asset manager.
To read the latest 麻豆映画 Real Assets magazine click here.
