Europa Capital has teamed up with asset manager Seven Dials to launch a new light industrial fund platform, targeting more than £100m of gross asset value in the next 18 months.
The platform, which has launched for Europa’s latest value add fund, is seeded with three industrial properties worth £27m.
These are located around London in Sunbury, Amersham and Grays, measuring around 180,000 sq ft in total. It is 88% occupied with a WAULT exceeding three years.
The investment programme focuses on last-mile logistics and warehouse investments, and seeks to capitalise on market trends near major UK cities.
James Fortescue, partner at Europa Capital, said: “The launch of this investment programme builds on our substantial experience in the industrial market, a sector which remains a strategic priority for our investment portfolio.
“This new platform is a planned agglomeration strategy whereby we look to acquire smaller assets, which require active management, and then to improve liquidity further through creating scale.”
Darren Fennell, director at Seven Dials, said: “We continue to focus on assets around London, which we believe will be the focal point during the recovery from the pandemic, as well as other major conurbations.
“Additionally, we have targeted properties that have low site coverage and units that are well placed to meet the requirements of e-commerce and distribution occupiers.”
Europa Capital was advised by Avison Young.
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