Oakwood Capital Management and asset manager Patrizia have gone under offer to buy a £400m MEPC business park portfolio.
A price of around £430m is understood to have been agreed for Chineham Park in Basingstoke, Hampshire; Birchwood Park in Warrington, Cheshire; and Hillington Park in Glasgow.
MEPC, wholly owned by Hermes Real Estate, appointed JLL to sell the circa 4m sq ft portfolio in May. It was seeking offers in excess of £400m – a 8.25% yield.
The deal comes after Oaktree and Patrizia bought Winnersh Triangle in July last year from SEGRO for £245m.
All parties declined to comment.
joanna.bourke@estatesgazette.com
