Cornerstone Real Estate Advisors has bought three industrial estates totalling 570,000 sq ft in England and Scotland, for £35m.
The purchase, on behalf of two clients, comprises Monkspath business park in Solihill from clients of Schroders, Evolution in Sheffield from Harworth Estates and Strategic Sites, and Kingston Bridge in Glasgow.
Cornerstone’s UK light industrial portfolio now stands at around 2.5m sq ft.
Nick Pink, chief investment officer at Cornerstone Europe, said: “These acquisitions are excellent examples of the kind of assets we target in this segment of the market. They are dominant estates in strong local markets, which also provide our asset managers with immediate opportunities to enhance the net income, in order to generate strong returns for our clients.”
Knight Frank, Lambert Smith Hampton, OBI Property, Ryden, Jones Lang LaSalle and CBRE all advised.
