Global investment firm Investcorp has acquired a fulfilment centre in Leeds for £16 million.
The acquisition is Investcorp’s 28th acquisition in the UK and marks the completion of its third UK Industrial and Logistics Programme (UKIL III).
Since June 2017, Investcorp has acquired industrial and logistics assets in the UK with a value of in excess of £200 million. In combination with four real estate investments in Germany, Investcorp has grown its total European real estate assets under management to over €500 million (£431.7 million).
UKIL III comprises industrial and logistics assets located in St Helens, Livingston, Glasgow, Manchester, Birmingham and Leeds, which were purchased for a combined value of more than £80 million.
Neil Hasson, Managing Director and Head of Investcorp European Real Estate, said: “Over the past two years, we have successfully executed Investcorp’s strategy to build a portfolio of well-located, income-generating industrial and logistics assets based throughout the UK. Demand for these types of assets is growing at a rapid rate and we continue to view this as a thriving market with immense growth potential.”