JR Capital and Chancerygate have bought an industrial estate in Eastbourne for £13.7m, a net initial yield of 7%.
The 12-unit Compton Industrial Estate, which totals 121,780 sq ft, is the third acquisition for the duo’s £150m multi-let urban logistics investment fund in as many months.
The vendor was a joint venture between commercial property business Canmoor and investment company JCAM.
Compton Industrial Estate sits one-and-a-half miles from Eastbourne town centre. Current occupiers include East Sussex County Council, Eastbourne Coach Furnishers, Williams Trade Suppliers and Howdens Joinery.
JR Capital and Chancerygate’s £150m fund has a five-year life and is targeting industrial, warehousing and urban logistics investments across the UK in lot sizes of £5m to £15m.
Gerald Eve acted on behalf of Chancerygate and JR Capital, while TT & G Partners acted for Canmoor and JCAM.
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