A large Merseyside trade park has been acquired by JR Capital and Chancerygate fund.
Commerce Trade Park in Birkenhead has been bought for £3.45m by the £100m multi-let industrial property investment fund.
Managed by property investment company JR Capital and industrial asset manager Chancerygate, which has an office in Warrington, the fund has acquired the 40,004 sq ft scheme from investment and property management company, London & Cambridge Properties (LCP).
The trade park on New Chester Road comprises four road facing trade counters, eight industrial and two office units ranging from 606 sq ft to 7,747 sq ft.
The scheme’s anchor tenants include construction materials supplier Saint Gobain Building Distribution, building supplies specialist Toolstation and and kitchens and joinery specialist Benchmarx.
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JR Capital head of investments, Michael Ferris, said: “This is a welcome addition to our growing portfolio and increases the funds exposure to the North West region of the 海角视频.
"The Trade Park is ideally situated in a prominent position on the main trade thoroughfare and adjacent to the Wirral Waters regeneration.”
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The purchase brings the fund's total investments to £32m comprising over 400,000 sq ft of industrial space following its recent acquisition of a nine-unit portfolio at Cardiff’s West Point Industrial Estate.
Other properties include Brunswick Park near Newcastle airport, Sandbeds Trading Estate in Ossett, West Yorkshire, Wollaston Industrial Park near Wellingborough and a portfolio of five assets near Northampton town centre.
The fund has a further £68m to spend over the next 12 months and intends to raise further capital. It is targeting multi-let industrial investments across the 海角视频 in lot sizes of £3m to £15m.
Chancerygate asset manager, David Tyson, added: “We are pleased to be adding such a strong asset to our portfolio in the form of Commerce Trade Park. The scheme boasts an impressive line-up of occupiers from some very well-known brands, many of which have performed exceptionally well despite the challenges posed by the pandemic.
“The addition of the trade park to our fund’s portfolio strengthens it significantly and we look forward to announcing further acquisitions over the coming months.”
B8 Real Estate acted on behalf of Chancerygate and JR Capital, while Mason Partners LLP acted for LCP.