The Duke of Westminster’s Grosvenor has provided funding for the relaunch of industrial entrepreneur John Sims’ investment vehicle.
Industrial Ownership will be run and managed by Sims’ and his business partner Angus Scot Brown’s IO Asset Management,
The duo will also co-invest in the vehicle which will buy multilet industrial estates and small business parks throughout the UK, with an initial investment programme of £35m. It will target lot sizes of £2.5-£4.5m.
Under its new indirect investments strategy, Grosvenor will increasingly use third-party specialist expertise to gain exposure to sectors and geographies that are not accessible through its proprietary and fund management activities.
The group said the move into industrial “is the first investment to further this strategy”.
It adds to Grosvenor’s existing indirect investments in European shopping centre specialist Sonae Sierra, and its co-investments in vehicles managed by Grosvenor Fund Management.
Sims said: “Angus and I are delighted to have established this investment vehicle with Grosvenor. We could not wish for better partners to re-establish the IO brand “
Chris Taite (pictured), Grosvenor Group investment director, said: “The IO investment is a significant first step in realising our indirect investment ambitions.
“Grosvenor aims for geographic and sector diversification and our exposure to the industrial sector is a notable omission in the UK.”
bridget.oconnell@estatesgazette.com
