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Bahrain – Investcorp, a leading global provider and manager of alternative investment products, is pleased to announce the acquisition of five industrial units in Scotland for £11.5 million.
Located in Uddingston, Blantyre and Livingston, the fully let 200,000 sq. ft. portfolio is home to a number of well-known tenants across the life sciences, logistics, telecoms and packaging sectors. The industrial units are ideally located next to several key transport connections across the M8 motorway, Scotland’s busiest motorway and a hugely important asset to the country’s industrial sector.
The acquisition marks Investcorp’ s seventh industrial property investment in the UK since June 2017, following the acquisition of a 200,000 sq. ft. distribution warehouse near St Helens in the North West of England in the first half of 2018. It is the latest in a series of acquisitions that Investcorp has undertaken across the UK and Germany as part of its broader pan-European real estate strategy. Investcorp has invested more than £250 million across its portfolio of UK and European real estate assets since June 2017.
Commenting on the acquisition, Yusef Al Yusef, Managing Director at Investcorp in Kuwait and Abu Dhabi, said: “This acquisition is consistent with Investcorp’s strategy to acquire well-located, income-generating industrial and logistics assets based in the UK. The portfolio is well positioned to benefit from the UK’s thriving industrial market and strong supply and demand dynamics. We look forward to working through our attractive pipeline of new investment opportunities in the UK.”
The investment has been made in partnership with Citivale, a UK-based asset manager. Knight Frank advised both parties on the transaction.
Jamie Fergusson, Partner at Knight Frank in Edinburgh, said: “We are pleased to have had the opportunity to advise Investcorp and Citivale on this transaction, which has highlighted the significant demand from investors for good quality industrial space in Scotland.”
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About Investcorp
Investcorp is a leading global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating investor and shareholder value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management.
As at June 30, 2018, the Investcorp Group had US$22.6 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 175 corporate investments in the U.S., Europe and the Middle East and North Africa region, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 600 commercial and residential real estate investments in the US and Europe, for in excess of US$57 billion in transaction value.
Investcorp employs approximately 390 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit: www.investcorp.com.
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Media Contacts:
Investcorp
Firas El Amine
+973 3998 7838
Brunswick Group
Joudi Issa
+971 4 446 6285
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