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MILEWAY ACQUIRES 692,000 SQUARE FOOT INDUSTRIAL PORTFOLIO

Seven-asset Rocket Portfolio acquired from Investcorp and Citivale

Mileway has acquired the Rocket portfolio of seven industrial assets in an off-market transaction.

The portfolio totals 692,000 sq ft of space across 58 individual units and incorporates seven separate assets – four multi-let industrial estates and three single-let warehouses.

The assets are all close to key transport corridors and regional commercial centres, with two locations each in the North West, Yorkshire & Humber, and Scotland, and a single asset in the South East.

Will Strachan, partner at Gerald Eve, said: “Offering a good mix of medium-term income, asset management opportunities and reversionary potential, this portfolio represents an excellent acquisition for Mileway.

“As Gerald Eve’s recently published Multi Let and Prime Logistics reports highlight, demand for industrial and logistics real estate remains buoyant, and such assets have been the main beneficiary of the huge shifts in consumer behaviour that are being seen. The market is underpinned by the strength of occupier demand and supply that remains close to historic lows, and it is these fundamentals that sit behind the continuing investor interest in the sector.”

Gerald Eve advised Mileway.

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Will Strachan

Partner