ACRE Capital have advised M&G on the acquisition of a dual multi-let estate portfolio from LondonMetric. The portfolio comprises of two industrial estates; Fenchurch Court, Oxford and Progress Industrial Park, Croydon.
Fenchurch Court, Oxford comprises an 8-unit industrial estate extending to a total of 17,870 sq ft GIA, with unit sizes ranging from 924 sq ft to 3,725 sq ft. Progress Park, Croydon comprises a 17-unit industrial estate extending to a total of 33,787 sq ft GIA, with unit sizes ranging from 884 sq ft to 7,145 sq ft.
Both estates are well let and offer strong reversionary potential in well-established South East towns.
The portfolio was acquired off-market for a headline price of approximately £17,500,000.
Location: South East
Property Type: Light Industrial Portfolio
Transaction Type: Acquisition
Client: M&G Investments
