LGIM Real Assets has bought two self-storage units totalling more than 92,000 sq ft in Bury in Greater Manchester and Lichfield in Staffordshire.
The acquisitions were made by Legal & General’s Industrial Property Investment Fund, which is valued at more than £2.3bn.
This brings LGIM Real Assets’ self storage portfolio to over 365,000 sq ft of space since entering the market last year. It aims to add a further 270,000 sq ft to its portfolio by 2022.
The investor’s self storage assets are managed by SureStore.
JLL advised on the deal.
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